My guess is that you have to wait for the anniversary festival for the option to appear, it may be related to the festival token changes the previous poster already mentioned.
Originally Posted by Aeilrond
There are no Frostbluff/Yule festival tokens any more, are you sure you were able to change them? All festival tokens get converted to a united "festival token", since the system was first applied during this past Yule festival the tokens from the other festivals have to "wait" till the equivalent season comes to be converted.
The conversion doesn't require the premium wallet upgrade. It becomes automatically when you move the tokens from your vault in your bags.
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