Yes.

I tried making an award reservation at the Westin Puerto Vallarta at the end of January, before the Feb 1st "restructuring" of the program. And the Westin PVR also did not show any availability during the time frame I was looking to book. A quick call to SPG and they said that the hotel did not load any availablity because they didn't want to make them available at the then cat 3 pricing, but instead the hotel chose to wait until after Feb. 1st to make rooms available, which then required more points to book. The SPG rep ended up booking me the award rooms I needed even though the hotel didn't show them as available at the time. A few days later, all the rooms became available, but of course at the new Cat 4 pricing structure.

Are you trying to make a reservation with points or a paid stay?

Either way, I'd put a call in to the call center and see if they can still book the rooms for you.