If you have any questions, just ask and I'll do my best to answer them directly.
The details of the offer are as follows:
Unfortunately we did not have a wide enough adoption of the library program in order to make it viable to continue. As a result we will not be offering the program moving forward.
For users who have joined the program, like yourself, we will honor the terms of the program and you can continue with it until it expires. However, once the current term is up, we will not be offering renewal options.
In appreciation of the inconvenience this represents, for a limited time, we are offering what amounts to a "buy out" for any user currently enrolled. In exchange for canceling your membership immediately, we will give you either $199 store credit, or a full current copy of Super Suite for $199 (a $600 rebate).
All of the other terms of the original contract have not changed. That means that you will still have access to any extensions you purchased outside of the library, and will automatically get the latest version of those extensions when you library membership expires or is canceled.
Any paid for upgrades released after your library membership is not active will have to be purchased at the time of the release, but you will get a 50% discount based on owning a previous version. You could use the $199 store credit, if you went with that option, to purchase any necessary updates at that time.
Hopefully this clears up your questions, if not, just post back with more and I'll try to address them.