Friends recently went to WDW and got a bounceback code for free dining. She offered it to me, but I wonder if it's transferable. We would need to book 2 rooms and they just had 1, but I'm thinking it's probably not transferable. Anybody know?
Not transferable. Bounceback offers are specifically created to bring back existing Guests, i.e. entice them to "bounce back" to Disney during a specific period because they're staying onsite during the offer period.
Also, the bounceback offer must be booked before checking out of your resort. If I'm reading your post correctly, it sounds as though your friend is already home from her trip and therefore wouldn't be able to even book it for herself at this point.
Sorry!
But keep an eye on the boards and maybe you'll find another discount that works for you. Also, be sure you are registered at disney.com and hope they send you a pin code.