I'd say both are true. You can definitely trade them -- they've got the (c) Disney on the back and even come with a Mickey back if I remember right. And it's a nice pin, so some people (like, oh, me) would be perfectly happy keeping it.
We picked ours up last week in Downtown Disney and they are WAY TOO CUTE to trade! My boys love them! I do too, I may have to look for some more cereal for the coupons!
Yes they are tradeable. We got about 4 of them on our last trip & right now we have enough for 3 free pins for our January trip. I've guess we should start eating more cereal.