Up here in Michigan, we're wondering how that works too. We've had the craziest weather —warm spring days (in February!) alternating with the odd day or two of traditional winter temps.
The sap started running in sugar maples a couple weeks ago, and I can see little buckets and bags collecting it in all the usual places. Just a month earlier than usual.
My own maples are already in full, fat, red bud.
I really don't know what happens if they bud and then the buds freeze. I suppose Mother Nature has that well in hand, but it looks like I'm going to find out soon!