It is pretty busy but not all the fault of New Jersey ! It's the last week of Food and Wine. Veteran's Day, elections, etc....there are more than a few reasons to pick this week.
We have been there quite a number of times. We always enjoy it, but think crowded and everyone has that "jersey" accent. Makes you feel a little bit out of place in some instances... My kids came back speaking that way one year!
It also seemed like it felt different depending on the resort. We noticed it more at BWV and BCV. OKW was relatively quiet and so was SSR, but then they are normally.
Having been there before during Jersey week I wouldn't say to worry about. Just understand that it is busier than the weeks on either side of it. We usually try to stay past Jersey week. That way we have half the vacation in the busy time and then enjoy the relative quiet after that.