Honestly, I would pick up the phone now and give a gentle prompt. I had a very similar situation and after around five days the cash refund had been processed but no sign of the Avios or voucher. Left it another 2 days - assuming that it would work itself out - but when I finally called, both were refunded immediately while still on the call. Very helpful and pleasant conversation but I was left with the impression that such IT glitches often happen and that my request was by no means unusual.
Thanks - I'll give them a call later.