Just saw this megaton on Wowhead.
Wow. That is awesome, I no longer need to level up 10 toons to do this holiday for a chance.You no longer have to be maximum level (110) to defeat the Crowne Company; these bosses now scale like the pre-expansion Demon Invasion bosses. We were able to queue up on level 20+ characters; have fun farming the Big Love Rocket!
As a result, the loot rewards are now appropriate to your level, similar to how Timewarped loot works. For example, Winking Eye of Love is ilvl 830 at 110, and scales down if you loot it at a lower level.
My bet is that Blizzard will do this for Headless Horseman, Brewfest and Summer Festival as well!