The "cancel up to X hours before" right in cancellation-protection packages — is it actually a right everyone is entitled to?

No. Cancellation-protection packages are optional, insurance-backed add-ons that let you cancel a package tour or hotel booking without penalty up to a certain time before it starts — typically as long as you give notice up to 72 hours before the stay or tour begins. There is no provision in the legislation granting everyone a cancellation right up to that deadline.