1.) Do we need to surrender old I-94 and get new H1B stamp? H1B stamp expired, but I-94 is valid until 2013.
-No. Alaska is a state of US and your driver license is enough, but bring your I-94 and the H1/H4 approval notice with you in case some one may check your status.
2.) Do we need to apply Canandian Visa?
The cruise started from Seattle, but will stop at Vancouver.
-Normally you need a Canada visa to enter Canada, but I am not sure whether it is needed by Cruise tour, so check it with the tourism company.