According to KSV, yes our initial deposits should be covered by Tarion Guarantee + ECDI from Trisura Insurance. Also I think someone reached out to SR Law a couple months ago and they told us that they still have our deposits in the trust account. Because technically our Agreements of Sale are still valid, we aren't entitled to get them back until someone decides to cancel them, or if a new developer gives us the option of a new closing date or our deposit back.
Long story short, we can't do much other than wait. You can see what the litigation lawyer says but I think we are stuck. Money should be given back, just not sure when. Anyone else please chime in if I got something wrong.