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This is exactly my situation as well. My 5,000 festivity tokens were not refunded, only the money was.
Sorry for copy and paste but I've just opened a thread where I wrote these.
What's frustrating is that, adding things up, the number of tokens I have now is the "correct" one, so it seems Steam had a bug or something that granted extra tokens to people. It really sucks, as I'm almost sure Valve will say it was simply a bug and thus they won't return those "bonus" tokens.
Typically this was something like another refund (that dropped you into the negative tokens as a result).
However, I added up the tokens I got for both times I added funds during the sale, and the tokens I'd earned from the tasks, and they add up to the amount that I currently have, while before making the purchase I had a lager amount. So like I mentioned in my previous post, it seems it was in fact a bug that gave people extra tokens, so it's likely that Valve won't acknowledge it and say we need to re-earn the tokens.
I haven’t refunded any other games. The only one that was refunded was this collection that was refunded automatically without me submitting a refund request.
I was alarmed to find that Steam had refunded my purchase, without me even asking them to or them asking me! What the heck, man??
To make matters worse, the $5.00 Winter sale discount thing that I used when buying it did NOT get returned to me when I was auto-refunded!! And, neither did the festivity tokens used to purchase said discount (I had at least 5,000 since thats how much the discount costs and now I only have like 3,000...wtf man?) So basically I lost $5.00 essentially, despite getting the rest of my money back. (Thx for stealing my 5 bucks, Valve... That's so nice and considerate of you...)
Also, I bought this aforementioned game alongside two other ones, which also got refunded...without me asking them to...
I don't think it's a bank account/card/payment processing issue because I bought $25 in wallet funds when the event began so I could buy this other game I had been waiting to go on sale to buy, and it's still in my library (not refunded) and I can still play it. I did not put any additional funds after I bought that game, and used most of what remained of that $25 to buy the three other games that got refunded for no reason, and had used the $5.00 discount thingy when I bought said three games...