So i understand that Premium membership is permanent, but in the listed features i am uncertain about login queue skipping, it says restricted for lordearon (realm?) and below that it states that one must use the bought coins before that works, does this mean that in Icecrown i dont have to spend the coins or does Icecrown not have this feature?
Also is the login queue skip under the permanent membership or does that actually need to be reinstated?
Yes, it means you don't have to spend the coins you donated for to skip the queue on Icecrown. The queue skipping feature for Icecrown is a permanent component on your account. The things you are worried about only applies to Lordaeron (which, currently, isn't applicable because Lord's population doesn't reach such heights).