I believe everyone received automatic contract extensions, but I don't think the funds can be used beyond the new contract expiration date.

I know the email I received also mentioned that I could request a refund of unused funds, but it was clear any Airpass benefits would be lost by requesting the refund (which may not be a big deal if you're just losing free wi-fi, or your AC membership, or something else easily replaceable like that, but it could be a bigger deal if you had Airpass-related status, for example).

If you've built up a big balance, I suppose one strategy could be to wait until just before the contract expires to continue enjoying any benefits, and then request a refund at the last minute. And to add a disclaimer -- I don't know everyone's individual situation, and I don't know whether the emails Airpass sent out varied between different members, so perhaps different offers were extended to different individuals.