FFXIAH.com

Okay thank you Darc, that clears up alot of questions.
Long story short:

A Square-Enix account links any (up to 10) Playonline IDs together and is required for use of the security token and Mog Satchel bonus.

All characters (and future mules assuming your token remains activated on your SE account) on linked POL accounts to your SE account will be subject to receiving Mog Satchel bonus. I am assuming when the token is mailed to you it will come with a code you can enter that will enable the bonus to be active for all linked accounts/characters with your SE account.

If you desire to not use the token anymore you can deactivate it from your SE account but it will forever remain disabled and will thus prevent any future mules/accounts from getting a Mog Satchel, but will however be kept on original characters/accounts that were previously linked to said SE account.

Also for those who share accounts; I am assuming once all POL accounts are linked with the one SE account and receive their Mog Satchel bonus, you will be required to use the token's one-time password to log into any linked accounts from your SE account, thus requiring a phone call or e-mail to your friend(s) who wish to log on your account assuming you are the token holder.

Another option is to deactivate the token from your SE account, but make sure everyone got their Mog Satchel beforehand since once deactivated it forever remain inactive and future mules for all accounts will not receive the Satchel bonus.