I came home to find my poor tree with about 1/2-1 inch of ice coating on every branch of the tree. Is it possible the buds will survive? I planted it in 2005 and it really took root last year and had hundreds of buds on it in fall, I was really looking forward to seeing some good growth this year is there a chance the buds will make it?
Likely be fine, assuming they were dormant and it's not too cold. Some branches broke here from heavy wet snow on the dissectums. Sap is running hard in the Japanese maples here.
Yes, I agree. Ice even seems to protect buds from extreme cold, and I've seen willows and dogwoods by the lake coated with an inch of ice that come through fine. My only concern would be the weight, either of the ice itself, or of the extra snow that branches thickened with ice can hold. I've seen quite a few beautiful dissectums split by heavy snow.
I had the same thing happen to me several years ago with a 35 year old Japanese maple. An arborist friend told me to leave it alone, and it would be fine. I thought he was just trying to make me feel better and very much doubted him. Spring came and the maple came through just fine---only one very short piece of dead wood. I think the ice does actually protect the buds.