It did look like it could be a great new dark ride. The effect of being under the water at one point, and then seeing the same scene from above water could be really cool.
However, I would be shocked if it were ever actually built stateside without significant cuts to the show elements. Look at what happened with Pooh. Maybe overseas if somebody else will pay for it.
It doesn't really fit at AK, but then again, neither does Nemo or Tarzan.
It would be a perfect fit in Fantasyland, and would fit well enough at MGM, since that park is apparently about anything remotely associated with a movie, TV show or rock band in some way, shape or form.