So,
The link for both ports come up, but the AP chooses one to send and receive traffic. If the AP is poe and the active port is disabled, the AP will lose power and reboot.
You should see this on the console on bootup"
Getting an IP address...
bonding: bond0: link status definitely up for interface eth0.
bonding: bond0: link status definitely up for interface eth1.
bonding: bond0: making interface eth0 the new active one.