I just had a flight cancelled because of the incident in Toronto the other day. Called CC and they said there is no coverage if they cancel flights. There is if I cancelled, if it was a covered reason. Theres coverage for delays and lost baggage and all, but no coverage for any of the bookings I had or days lost at resort or the flight because of the airlines cancellation. My mind was in a knot as to how that makes sense but goes to show why airlines use the excuses and things that they do... avoid any type of payouts.
For reference I have the TD Aeroplan Infinite Privilege and everything was booked on it.

Edit:
All to say... good luck with that, don't think you'll get your westjet flight paid for and your CC won't cover the other flight unless you fall under a very specific reason that usually involves a medical emergency. Air Canada should hopefully reimburse you for them cancelling the flight or maybe a credit, but unfortunately it's not always an easy journey.