Read what… it’s for speed leveling new characters NOT playing current ones. I had no interest in wasting time on Plunderstorm so I didn’t touch it. 
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I agree, I would like to be able to do this as well. I don’t need to make another of anything until a new race and class are released. At the current 60 account cap. Why would I want more of what I already have. Just give me the option to help me finish leveling up the other characters I already have.
To bad leveling and pve is soooooooo boring. I already have every class on Horde and Alliance at max level, why would i want to go back and suffer through all that again? Just let me import my max level character.
You don’t need to make multiple alts, it just gives people the option to level alts quicker. You can just make one character and farm out the rewards. It will be a bit different of an experience, too, with uncapped progression - it’s a remix, not classic.
Or just don’t play it. But importing an existing character would defeat the purpose of the event. Like everything else in the game, people will need to put in some effort if they would like the rewards.
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Question: I’m planning on making a clone of this Zandalari Priest (same name and all) for MoP timerunning, but not planning on transferring him over to retail once it’s over. Do I still get the mounts/rewards on my main characters?
I don’t believe it’s an option to not move it over, it’ll just happen. But you’ll get the rewards and can delete the character after if you’d like.
X link - Check the bottom of the image for the fine print
For character names, I’m not 100% sure, but since timerunning and retail characters will be sharing a server, it’ll likely restrict you from unavailable names on that server.