I spoke with support, and the only response I got was that they have no idea why the key has not been updated, and not sure if/when someone will get around to updating it. The support engineer I spoke with said he discussed the issue with other engineers and think the open-vm-tools-deploypkg (which should be the only thing on the repository site that is needed) will no longer be updated. Not really the answer I was hoping for, but that was their response. For now users can delete the /etc/apt/sources.list.d/vmware-tools.list file, along with the two keys from the system. I found that just commenting out the one line in the vmware-tools.list file also works. It looks like "sudo apt-get update" still works fine even with the error, if you don't feel like removing the file or keys.
