It's a shame that Wonders of Life lost its sponsorship from MetLife, because that may be a foreshadowing of bad things to come.
However, it is possible that, in view of MetLife's former/current spokesteam, the Peanuts Gang, and the recent death of Charles Schultz, MetLife may simply be pulling out to avaoid any possible copyright suits that may develope from Schultz's syndicate. The same is true from Disney's perspective: to avoid being sued, they allow the contract for sponsorship to expire without looking for renewal, letting MetLife decide if it's worth it or not to renew.
As for The Living Seas, it's anyone's guess.
However, it is my opinion that the reduced hours are for simple maintainence issues. As was stated in an earlier post, The Living Seas lost its sponsorship awhile back, which may simply mean that Disney, with a lack of sponsorship, did not find it necessary to rehab the pavilion to attract the sponsor's renewal. Now, with The Living Seas operating at reduced hours and reduced attendance, they may be provided with a perfect window of oppurtunity to restore an original Epcot pavilion and not destroy it and leave the lot empty and unused for who knows how long.