Yes it is intended that IF and only IF you do NOT lvl past 60 - ie go to 61, you can delete that character and create another without losing your token. I did this since my OCD is not letting me decide just which darned character I wanted to be lvl 60. It let me do this several times with no issue whatsoever until I finally decided to create a Jedi Shadow (since I already have a sage and wouldn't lose out on any of the story etc.), it showed me at lvl 60 in the creation screen with the legacy gear etc, but when it created my char i was a whopping lvl 1. I thought I did something wrong so I logged out, deleted that char and my token was there again. Once again created another lvl 60, logged on and it did the same thing. Wish I had seen the post about the bug before I did this because now my token is just gone ugh
so yes, it is intended that you can do this while you make up your mind if you like that play style etc, but I highly recommend waiting until they address everyone's lost tokens and get the bug fixed first