U Classic Reward - Downgraded with 24 hours notice

No success = no response, or a denial?

If no response, ring.

If anything else, please give us more detail about what they've responded with.
Response received, without any reference to refunding Points difference of 47,000 Points (23,500 each) being the fare difference between U and X.

(QF 702) was originally booked under Business Class fare "U", which is not eligible to earn Qantas Points as per the program’s terms and conditions.
(For your reference, fare class details can usually be found on your boarding pass or E-ticket itinerary.)
Additionally, we can see that 11 Status Credits were automatically credited to your account for the QF 702 flight, which was ultimately flown in Economy Class under fare class "X". Please be advised that this fare class is normally ineligible to earn rewards. However, as a one-time goodwill gesture, we will allow the Status Credits already applied to remain on your account (since this is an error on our end).
 
Response received, without any reference to refunding Points difference of 47,000 Points (23,500 each) being the fare difference between U and X.

(QF 702) was originally booked under Business Class fare "U", which is not eligible to earn Qantas Points as per the program’s terms and conditions.
(For your reference, fare class details can usually be found on your boarding pass or E-ticket itinerary.)
Additionally, we can see that 11 Status Credits were automatically credited to your account for the QF 702 flight, which was ultimately flown in Economy Class under fare class "X". Please be advised that this fare class is normally ineligible to earn rewards. However, as a one-time goodwill gesture, we will allow the Status Credits already applied to remain on your account (since this is an error on our end).
So it looks like they haven’t taken account of points club.

Just reply pointing out that points club SCs are applicable here.
 
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