I would be a bit surprised to see major increases in the pricing. This can't be a substantial source of income for Wyndham, after all; it's just last minute availability that no one wanted to book further in advance - if they try to do much more than cover the costs they wouldn't be likely to sell it. It seems to me that the $5 would cover at least close to the cost of the points, if you accept CWA costs as a baseline for developer-owned inventory, less the developer's percentage/management fees, so a more true cost of the inventory that would otherwise be what Wyndham loses by leaving it empty.
I also kind of wonder how they will manage gaming of bonus time (e.g., cancellation at 15 days to rebook at 14 as bonus time). Delayed return of the availability to inventory would impact the ability to fill it. Other systems limit it to some extent by prohibiting cash booking of the same unit type for the same dates as a previously held reservation (open season in HGVC).
Bonus time might also make purchasing points protection attractive for folks that have higher cost points. There would be some point at which it would be cheaper to shift from a normal reservation to bonus time, if available, and cancel inside of 15 days to recover the points for use elsewhere; another form of rebook and cancel.
