#3 - Sept. 19, 2010, 5:24 a.m.
No, Jefreestar - you will be able to continue playing up to the point where your pre-paid game time runs out. The 'Canceled' status is only in regards to your subscription status. If you have a monthly payment set up, it will not charge you until after your current pre-paid time runs out.
I hope that makes some sense. >^.^< Welcome to World of Warcraft!