Hi everyone,
Just wanted to close the loop here. I ended up booking a V class ticket using Travelocity, which was about $250 less than the cheapest ticket on Garuda's web site. I keyed in the locator and last name, and it turns out I was eligible for bid upgrade.
It did not provide the sliding scale but rather a fixed bid of approximately $300 per ticket (the fare was $500). I was slightly disappointed by this as I would have been willing to go higher. Any ideas as to when they offer this fixed rate vs. the sliding scale? Does one have better chances for success than the other? We have 5 seats (there are about 13 seats in business currently unassigned) so that may be a limiting factor, too.
Anyway, we'll see how it all turns out in about a month!