I have similar memories, or at least I THINK I do...! (Too much fog remains from those days.) I was a Fraternity Brother at the time (technically still am of course!) and shared some great music, beer, and whatever with quite a few great guys. (I think there were women involved as well. I met my wife in that House.) In fact I still do "Friday Happies" with about 5 of them, after all these years! We were all Moody Blues fans, and will be again...! (I'm also a BIG Yes fan, through their several renderings.)
I too was very curious as to whether or not these would be stereo SACD vs. SS as the information provided does not specify. But there is also no such declaration for Seventh Sojourn and that one is indeed 5.1 SS, or certainly seems that way in terms of a very full sound field and "positioning" (I need to confirm!). And the blue "Multichannel" light on the both the player and receiver are lit for this one, as they are for all 5 titles (6 disks total) that I now have.
The information provided on the main disk tracks for the set I just ordered says "Remastered" as expected. For the first 2 it's from "Original Master Tapes" and for the last 3 it's from "Original Quad Masters", which I think is usually a seque into 5.1 per readings I recall. Hopefully they all are, but I could see where the earlier albums might have less original tracks from which to work.
Incidentally, on Seventh Sojourn the bonus tracks are not in the SACD layer. I expect to find them in the regular CD layer, but haven't verified that. This is also an "Import SACD" version, as is the set I just ordered which might mean the same mixing strategies. So I hope/expect that the "original" tracks for each of the 5 albums will be in 5.1 SS, and the bonus stuff will be a mix in various layers, all TBD of course.
"Favor" needs to be a future purchase, hopefully for less. It is detailed similar to Seventh Sojourn in the website.