I had to cancel a reservation (as host) and I was panicked because I didn't want the tenant to be penalized. There was no way to see how much of a refund she was going to get, and when it was going to be issued. She specifically asked me these two questions, and I felt really stupid because I didn't know the answer and couldn't find it on the website. I finally had to contact customer service (no small feat!!) and a nice person named Ember helped me. The answer was that my tenant did get a full refund with no penalty. I would be nice to see this when a host processes a cancellation.
P.S. The only way to reach someone was through Twitter. Which I thought was hilarious!