The 11 month reservation window applies to your home resort. Your home resort is the one for which you purchased your points. For example, let's say your purchased 150 points at VWL. You may make a reservation to stay on points at VWL up to 11 months in advance of your desired check out day. At 7 months in advance of that same check out day, ANY DVC member can make a reservation to stay at VWL. Therefore, you, as an owner at VWL, have a 4 month "exclusive" opportunity to make reservations. This can be quite an advantage to getting reservations for the more popular times. Reservations are always subject to availability and there is no guarantee that a room or will be available at the time you want to go.
As mentioned above, at 7 months in advance of your desired check out day, you can make a reservation to stay on points at any of the other DVC resorts, subject to availability. Using the example of 150 VWL points, you could try to make a reservation at VB, HHI, OKW or BWV. The actual onwers of these resorts have already had the 4 month advantage so there may or may not be rooms left for you to reserve.
If you still have questions, please ask again.