Expired Visa, Valid I-94 Mexico Visit

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Hello Senior Members,
My spouse and child is on L1/L2 and myself on H1 B. However our visas have expired. We have valid extensions with I-94 till July 2014.
We want to go on cruise to Hawaii. This ship stops for 1 day in Mexico on return.

1. Any issues re-entering US since Visa is expired?
2. I read on web that I-94 revalidation is applicable for Mexico and canada. Any experiences ?
3. Any advise on what I need to keep in mind.

Thanks in advance

regards
Subeed