fyi
I worked at a travel agency for 3 years and we had a client in a similar "bind." We actually spoke with our Continental rep who reaffirmed that there are no exp dates or problems with accumulating 100k´s.
One thing to remember (although you probably already know) is that your CO miles can be used on KLM, Emirates, AAEagle (for all those caribbean destinations) and even A3 (although I am a bit hesitant to mention a train award on FT).
Any student FTer like myself would be in heaven with that kind of accumulation.
Happy redemptions.