I have been through the BizElite oversale situation numerous times with Delta. It's a bad situation for both the passengers as well as the gate agents...
Scenario 1 (most common scenario):
Delta will treat the BizElite oversale like a regular oversale = they will try to solicit volunteers to fly BizElite on another flight to their final destination. Regular Delta Dollars DBC does apply in this case.
Example: ATL-CDG oversold by 5 in BizElite, DL offered DL$400 to take a later ATL-CDG flight.
Or, if there are passengers on the oversold Delta flight, which could be put on a Delta non-stop to their final destination, they will simply move those passengers.
Example: ATL-CDG oversold by 2 in BizElite, DL moved me and my brother onto the non-stop ATL-MUC without asking us first - and without any compensation. But who can complain against getting home earlier on the non-stop?
Scenario 2 (less common scenario):
Delta will involuntarily downgrade passengers as needed if they cannot work out scenario 1. This is usually not based on the value of the ticket; it is rather based on a) that you do not hold an assigned seat and b) what your position on the airport standby list is (a PM on a J fare without an assigned seat trumps a GM on a J fare without an assigned seat) and c) your checked in.
A good agent would offer an IDB as an alternative, with a later re-accomodation flight in BusinessElite.
While it would be good business to look at the fare paid (especially vs. upgrades), I have never seen Delta actually doing this at the airport.