Are these pieces of paper really worth $100 a piece or only the cost of the paper and ink? Since the notes never shipped, and likely won't, thus won't backed by the government I have a hard time thinking this is a $110 billion problem.
On the other hand, they don't cost that much to print, only 12 cents. But there's 1.1 billion of them. So that's $132 million of work that's not doing any good right now. Still a good-sized problem, without considering the time and expense of sorting and replacing bad notes.