We did Liarsville with the train (no Disney Characters)
The train ride itself took about an hour and a half or so (I kind of lost track of time). It was a great trip--you pass through 4 different climate zones (tundra, rainforest, etc.). You could go out of the cars (in the areas between them) and take pictures. In Fraser BC, a customs agent borded and checked passports (you'll need those), then we got on a bus and went back via the highway. Every so often, the driver would stop and we'd get out for a picture opportunity.
The bus stopped in Liarsville for an hour. They had hot apple juice and animal crackers to eat. We missed out on the animal crackers because we had to go to the bathroom (I recommend going using the facilities on either the bus or the train as opposed to Liarsville). There wasn't a whole lot to Liarsville... they put on a short musical show, and then a poetry reading (which was fantastic, and I don't like poetry). We then panned for (Canadian) gold, which the kids loved.
After that, we browsed Liarsville a bit (not much there, actually), and bought a few things in the gift shop.
I'm not sure what to make of the Liarsville experience. I want to say it was underwhelming, but I actually quite enjoyed it. Could have used another half hour there to take in all the sites.
The train is a don't miss, though. It was great!