Here is a fun concept.
How about this: When a champion gets reworked give players a week to see if they still like the champion. If they don't, then for that one week only that champion can be refunded. I don't know about you guys/girls, but I feel a little ripped off every time Rito reworks a champion and makes them useless to me. A LOT of my favorite champions ended up reworked and now I never play them, which feels like I wasted my RP/IP for nothing. This would also be a great alternative to the whole "You only get 3 refunds because Rito demands it" thing which i also find unfair to the players. It'd be different if they came back (or at least one did) every season but 3 for life seems kind of cheap, Rito. You are the largest MMO with the biggest player base, you'd think you'd want to spoil your players a little more.