Our card processor (Fiserv) sent us a similar notification. The first one said we had to provide cardholders an opt-out. The second one said to check with compliance or counsel. We are waiting to see how our core and Fiserv will accommodate this. We may be updating our Account Agreement to offer the opportunity to opt-out, or possibly adding this to our card mailer.
Counsel pointed out that Visa rules state that a US Issuer must enroll all of its licensed BINs in VAU. The rules also state that an Issuer that uses VAU must submit updates for cards (acct #/exp changes, closed accounts, and contact cardholder) under its enrolled BINs. The rules seem to not permit allowing cardholders to opt-out.
He did say that there would be some benefit in communicating the service to cardholders so they are aware the service in case they want to revoke any authorizations (expired cards won't necessarily stop it).
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No, I didn't lose my mind. It got scared and ran away.