I recently started using bootstrap SCSS on my node project. So I have app/bower_components/bootstrap-sass/lib/_glyphicons.scss for example.
Looking at my CS
Both answers are correct. To sum it up, there's no magic.
Bootstrap initializes $icon-font-path with a default value.
if you include bootstrap's SCSS in a manager that requires a different value for $icon-font-path you should also override their default value.
The syntax $icon-font-path: some_value !default; means - use this value if not already set.
So when you include you should do the following
/* override icon-font-path value and include scss */
$icon-font-path: bower_components/bootstrap/fonts;
@include bower_components/bootstrap/bootstrap.scss;
paths might be different in real scenarios.
This seems to be a standard mechanism for publishing a reusable SCSS modules.