Submitted BRG which got approved. Was very hesitant on this because the hotel was expensive ($300 + / night) and it required a first night deposit (which was refundable if you cancelled - it was a Best Flexible Rate with a deposit required).
The BRG team said due to a "technical difficulty" they could not adjust the rate to zero but that I would be reimbursed by check 4 - 6 weeks after my stay. It was our wedding anniversary and a very nice hotel so decided to go ahead and hope I would indeed get reimbursed - if not it would be a splurge for the anniversary.
I am happy to say I received a check from IHG in 16 days (and there was a holiday in there too). So if you don't mind shelling out ahead of time it looks like they really do keep their promise. I am impressed.