Greta,
I think you do qualify. I just went to the US Tijuana border to renew my I-94 (I am in a H1-B Visa) and they deny it because I had a month left on my I-94... So I was let in the US for the remainder of my I-94 with no problem. If I where you I would consult with CBP prior taking the risk. Keep in mind that it has to be less than 30 days. Here is an excerpt form the CBP website:
In general, if you have been admitted to the United States
under most visa classifications if you take a short trip (30 days or less) to Canada or Mexico, you may retain your I-94/I-94W, so that when you resume your visit to the United States you are readmitted for the balance of the time remaining on your I-94/I-94W.
For those admitted as academic students or exchange visitors (F or J classifications), if you take a short trip (30 days or less) to Canada, Mexico, or the Adjacent Islands, you may retain your I-94 and your SEVIS form I-20 or SEVIS Form DS-2019, so when you resume your visit to the United States you are readmitted for the balance of the time
http://www.cbp.gov/xp/cgov/travel/id_visa/i-94_instructions/filling_out_i94.xmlRod
Thank you!! I've been looking at the AVR as well... will H-1s also qualify for it as long as they keep the I-94? I can probably ask about this in my school's international office but I don't know whom to ask about H-1!!
Let me dig out the old threads, I've been searching on the forum but no luck so far :-(