According to an article that was posted by Zap 2 it. This is what was said
"Yes, "Vampire Diaries" fans, it's true -- Bonnie is, indeed, dead. The photos of her at graduation next week are actually pics of her in her ghostly form, attending the ceremony with her friends, since the veil is still open. As for whether she'll stay dead? Let's just say there are still some tricks up her sleeve, and some twists in the plot. "
Hope that answered your question :)
Hopefully not, but I think she will survive so they can close the veil.
It would kind of suck if she is killed off the show and never coming back, but if you think of it this way in a good light she would be with Jeremy since they both care for each other.
But since she is a witch and probably can still do magic she could just figure something out with her Grams. Hopefully.
She is attending college with Elena and Caroline is SOME form next season. That has already been spoiled prior to her death. So, yes, I believe she is actually dead. I just don't believe that she will remain that way.
As long as the veil exist no one is permanently dead unless they find peace like Jenna did (Finn and Sage probably did too and possibly others).
Bonnie as a half-witch, half-ghost would be an interesting plot but I hope they lay out there rules early in season 5 and then actually follow them and not break them at the earliest convenience.
What do you think?