If airlines can charge for a NO SHOW, then customers should be able to "charge" the airline for not taking them on-boardThere's nothing with over selling tickets, however VA makes every steps wrong when situation like this happens. I would ask for the compensation if VA can't get me on board after I pay for the ticket. Airlines make contract on their own benefit, such as if you no show, then you lose the value of the ticket or points, and if you make a change, then pay for the cost etc. However, if they off load you just because they oversold their tickets to make the revenue, then why passengers should cope with the inconvenience.
The "charge" for the inconvenience could be cash (full/partial refund), double points for the flight/leg or 50% more points for that flight/leg. May be, may be 50% more SC for that leg/flight