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Ok so here's what I've found about farming these fallen treasure chests. By the way, sorry, if any of this is repetitive, I am I'm the middle of farming so I have not read any of the responses. In addition, all this post is going to be about is FARMING the chests, not completing the bounties. These can yield house of wolves de-coherent engrams, as well as legendary engrams, and of course, Treasure keys! Keep in mind, these engrams will not be able to be decrypted until HoW comes out on the 19th, so use your storage space between your characters, your vault, and the postmaster wisely. Also keep in mind that Treasure Keys go into the CONSUMABLES section of your inventory, so make sure to have a slot open for them, but only one is needed as they are STACKABLE (to what extent I don't know as I have only obtained 2 so far).
So far (as the bounties are day by day based, day 1-6, and today marks day 4, 5 actually now that I'm writing this after the reset) the best spot I've found for farming these chests is on the cosmodrome, in the skywatch. It is probably the smallest area in the game, so the chests are both closer together, and are close to other areas (this will come into play later). So the first step would be to get to the skywatch and wait for a house of wolves to be on the prowl. This seems to be on a 10 minute timer, so one comes around every 10 or so minutes. Jump in and kill ALL the enemies, NOT JUST THE BOSS. If you kill the boss and a straggling wolf pack enemy remains, you will NOT get the Ether Key buff and WILL NOT be able to open the fallen treasure chest, regardless of if you have found it or not! Now, there are FOUR locations the Fallen Treasure can spawn in the skywatch, and I believe this is true about all the bounty area, although I CANNOT CONFIRM this. I will be attaching screenshots of where these chests are located for your convenience. Now, you will have 1 minute and 30 seconds (realistically more like 25 seconds as the chest doesn't always spawn in instantly) to locate and open the Fallen Treasure. BUT WAIT THERE'S MORE!!!! It is possible to open the Fallen Treasure Chest MULTIPLE TIMES. To do this, you must exit the area (in this case the skywatch), and then return and open the chest again. This can be done AS MANY TIMES AS IS POSSIBLE FOR YOU WITHIN THE 1:30 TIME LIMIT OF THE ETHER KEYS! as far as the skywatch goes, I can consistently open 3/4 of the chest locations 3 times each run, and the fourth, what I like to call the sweet spot which is located just outside the exit of the lunar complex, I can get 4 times consistently, sometimes up 6.
Well, thats about it, have a good time farming! Chest location images are in the link provided. http://imgur.com/a/F9rmB