My family enjoys Typhoon Lagoon over BB. Water shoes are not really needed, they're not good with the slides. As far as the time of day, getting there in the morning is what we usually do but I would think going mid day would be fine as well. Its a great park, enjoy!
I used to feel like I had to do the parks from open till close. Now, we tend to go to the park of the day for a 4-5 hours then go back to the hotel for a couple hours. Enjoying an hour or two of mid day relax time really makes the last part of the day in a park so much better.
I was there this past July. Lion King is closer than Cars. Finding Nemo would be the closest but Lion isnt bad at all. The back ends of the buildings will obviously be a little furthure. Either one should work for you. Enjoy!!
We were there 2 weeks ago. Very starnge to walk by the buildings and know you cant just walk out from your room. We stayed and Pop and just walked over to AOA to check it out. It wouldnt stop me from staying there but its not the same building/rooms that we are all used to at the value resorts...