I bought 2 new accounts to go along with my other 2.

Account 1 not linked

Account 2 referred -> acct 3 who referred ->acct4

I did this so i could boost with Acct 1 and all the lowbies get 3x experience. I can confirm that this works, and works well.

So in this case Acct 3 is a veteran and a recruit. And actually you can give levels BOTH ways. That is to the referrer and to the Noob account. I didn't know you could do it to the Noob account before.