Just an update on this. Had no issue cancelling the awards without paying any penalty, originally booked on July 4. The newly booked awards (at 20% lower miles) also went through fine. Actually decided to book some of them as roundtrips (rather than one-ways) to benefit from being able to cancel the whole roundtrip for a 50 euro fee (rather than 50 euro per leg) if need be. The PSL was very cool about it. Also, zero wait when calling the PSL... which surprised me considering the mess going on at AMS.

My personal position on this FB change still applies. I'm mainly flying intra Europe so for me it's great being able to book C class awards for 20K, I'm actually able to replace paid flights with these. And this gives me over a cent per mile in value which previously was only possible flying long-haul (Which I virtually never do for personal travel).