I believe you are confusing voluntary LOAs with "incentive" or no-fly lines.

VLOAs can be taken now, virtually no questions asked. 30-60-90-120 days. No pay. Company continues to pay health benefits (although yesterday's webcast seemed to erroneously outline that the company would pay the EMPLOYEE'S share...I thought they only paid theirs and the employee had to continue to pay their existing co-pays...this needs to be clarified)

Incentive lines (no-fly) will be coming and will be seniority based. They have two choices absent a MOU: pay everyone the CBA min of 75 and build lines for every bidder with way less block hours; or furlough, which they have stated over and over they don't (and can't if they take stimulus $). Saw a Rep last week and he confirmed they were working on details.
My guess is they'll be part of the monthly bid. Say there are 150 Incentive lines for SEA CA, lines 1-150 will be in the bid pack as worth X hours and show no trips. The rest will be normal lines, with perhaps less flying than 75 but still worth 75. Anyone senior who wants to make more $ can bid lines 1-150. The usual suspects will do so.

And yes, PBS would have allowed them to re-bid April. Will be interesting to see how much trips are cobbled up. Folks are going to show up for multi-day trips and fly 2-3 legs. Lots of time in hotel rooms!