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My question is simple, and I don't believe I have to explain it further here.

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Yes, they will lose the points. Otherwise you could give unlimited points to various users by changing the accepted answer.

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  • \$\begingroup\$ It should be noted that sometimes the point change doesn't get recorded immediately (a lot of information is statically cached on SE), however there are periodic rep-recalc jobs that run to correct such things. If you ever find that your rep has changed "unexpectedly" and without any visible cause, that is often the reason. \$\endgroup\$
    – jrista
    Commented Feb 13, 2012 at 20:57

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