One Curious Identity Counting Graceful Labelings

Let $a$ and $b$ be positive integers with prime factorisations $a = p_1^np_2^n$ and $b = q_1^nq_2^n$. We prove that the number of essentially distinct $\alpha$-graceful labelings of the complete bipartite graph $K_{a, b}$ equals the alternating sum of fourth powers of binomial coefficients $(-1)^n[\binom{2n}{0}^4 - \binom{2n}{1}^4 + \binom{2n}{2}^4 - \binom{2n}{3}^4 + \cdots + \binom{2n}{2n}^4]$.