I returned a Studio Series 86 Arcee yesterday at the Toys R Us location across from Sherway Gardens in the west end of Toronto.
No issues at the customer service counter and I couldn't find anything about the return policy for collector items. Only thing that were explicit was No Returns on trading cards + Funko Pop! figures.
Just noticed the thread on the Canadian Transformers News sub-forum.
Toys R Us Canada Announces all Collector Items Products as FINAL SALE
http://www.cybertron.ca/boards/showthread.php?t=86783
They need to be more prominent with this policy at the store level.
Like everyone has said...will be very difficult to shop there going forward.