Two quick updates to resolve a few topics I've left open:
I am the only person on the ballot. Now we get to see if I lose in an unopposed election; it has happened before (department members can vote "no").
The dean did end up canceling one of my lab sections. The dean made the announcement in lecture about a week and a half ago; immediately after the announcement I stopped lecture and had all the students in the affected lab section come up to see what we could do to help them. It turns out that (thanks to the dean's help) all but one of the students were able to transfer into another section of lab. The effect on my teaching load will depend partially on whether or not I'm elected to be department chair, but most likely I'll have to teach more next semester to make up for the lost lab.