Will the key stay in your inventory this year and be allowed to get passed along to your alts back and forth? This is what being account bound would mean to me. Last year keys were consumed after the event which kind of disappointed people who wanted them for alts they may make in the future. An official response explaining the garden keys would be nice.
Edit: Keys were consumed even if they were in your bank so people should keep that in mind if nothing has changed.
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The problem was entire stacks of keys were being consumed on a single use. So even if you farmed multiple keys for multiple alts, you could still lose out if not careful.
What's supposed to happen is that if you have the key in your character's inventory and enter the garden, the key gets used up, and that character gains indefinite access to the garden, even after the event.
From my understanding, the issue is that whole stacks of keys are getting used up, and if the key is in that character's bank, it'll also get used up, even if you didn't want to use it on that character.
As the other poster mentioned - just to play it safe, either place the key in your account bank, or mail it to yourself, to avoid using it up when you didn't want to.
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All righty then, that makes more sense, thanks for explaining it.