With the exception of Southwest gift cards, funds from proactively cancelled reservations by Southwest will be returned to the original form of payment. Reservations paid for with a Southwest gift card will have the amount applied from the gift card held as travel funds for use by the Customer on a future Southwest Airlines flight.
Wait. Is this new? I though that the flights they had cancelled were being refunded as travel funds?
So... worst case scenario, they cancel one of the bookings and give you a full refund?