How to split Commerce Order: Shipping Address and/or Billing Address into different lines in Views
Thanks to this question, and Stan Ascher's answer, I was able to find the correct tokens to use with Rules. I thought I would share it here:

[commerce-order:commerce-customer-billing:commerce-customer-address:name_line]
[commerce-order:commerce-customer-billing:commerce-customer-address:thoroughfare]
[commerce-order:commerce-customer-billing:commerce-customer-address:locality], [commerce-order:commerce-customer-billing:commerce-customer-address:administrative_area] [commerce-order:commerce-customer-billing:commerce-customer-address:postal_code]