Thanks. I just realized that I have been looking in the wrong classes for the "key" value. When using 'newUpdatePersonAppDataRequest', if you wish to extract the value you have to use 'newFetchPersonRequest' and 'newFetchPersonAppDataRequest'. I also realized that these values come back as a name/value pair. Below is the corrected code. It is working now.
var req1 = opensocial.newDataRequest();
req1.add(req1.newFetchPersonRequest(opensocial.DataRequest.PersonId.VIEWER), 'viewer');
req1.add(req1.newFetchPersonAppDataRequest(opensocial.DataRequest.PersonId.VIEWER, "IDENT2"), "key_data");
req1.send(set_callback1);
function set_callback1(resp) {
if (!resp.hadError()) {
var data = resp.get('key_data').getData();
var viewer = resp.get('viewer').getData();
var viewerData = data[viewer.getId()];
var result = viewerData['IDENT2'];
alert(result);
}
}