It works fine with premiere club here, everything seem to be working correctedly. Haven't gotten to the golden key area yet to test the keys.
The chest for the golden keys is in the same room as the fast travel inside the town of Sanctuary.
I haven't had to use the trainers key option as I used the text modifying method to cheat to have 99 golden keys. I've already gone through 8-9 keys, they usually give two items or one uber item like a rocket launcher. I usually get two guns, two shields, two grenades, or two relics.. things like that. I've actually replaced all of my equipment with purples and I tend to do that now whenever I level up enough and go back to Sanctuary.
[Edited by Aeterna85, 9/19/2012 2:48:36 AM]
[Edited by Aeterna85, 9/19/2012 2:49:20 AM]