I'm going to be cancelling my order as soon as I have the watch in hand. I ordered it from the Halifax Apple store and they have stock. Since Friday I went from 102 to 99 and this morning went to 98. Was waiting for a Grey 44mm.
Rogers statement clearly says that they will refund your $46.00 when you pick up your watch or if you cancel.
You can change your mind as long as your reservation is still in open status. You can just cancel your first reservation and create another afterwards. Your initial reservation fee will be credited back to your Rogers account. Once you've chosen a different device, the reservation fee for that device will be charged to your account.