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Just found this out today! And it must have just happened, as I tried logging onto the game a week ago to update my game files and it told me to activate my old account (I haven't played in about 9 months). I decided to resubscibe today, and was testing out my old password to see if I rememebered it right...and it logged me right into the game!
I then went to check my account info online, and I have two free weeks of game time active on my account starting today. So I think if you try logging on, it gives you two free weeks starting from that exact moment.
I know they did this same thing last year, so this is very cool news. All old players, feel free to return for 2 free weeks! And I'm using my old toons and everything.