Fin is correct. There is an issue.
Essentially, when NAME.com switched from a system that automatically paid the money for a self-cancelled .tv backorder into domain credits to the new system (where the money supposedly goes back to the original method of payment and if that fails then to domain credits) they created a problem they are loathe to actually admit, or understand, exists.
Yes, the system works well for any .tv backorder that has been taken out since the system changed (I know I've tested it) but it appears (at least in my case) that some older backorders that are cancelled which were NOT paid by domain credit in the first place seem to get lost in the ether.
Trying to explain the problem to name.com is difficult because they can see that if they place a backorder and then cancel it - it works.
What is needed when someone wants to cancel an older order is to do it while talking to customer support so they can see that the money doesn't go anywhere.
The whole situation is further complicated by the fact that the system appears to have a difficulty if a name has been backordered/canceled/backordered in the past.
I have pointed this problem out to Name.com in the past but, so far, it appears they have not addressed or been able to explain WHERE the money from the refunds actually went.
Having said all this I must stress that I think NAME.com are probably the best of the registrars and their customer service is normally excellent. I think the issue here is that name.com can't actually see the problem because it only affects a few people.
I sympathise with Fin. If he has been affected to the tune of over $2k then this is really very serious and he needs to speak to them directly and ask them a simple question: 'Where did the money go?'