We did the Animation Academy twice on April 25. The class is in a single auditorium, and runs every 30 minutes - they were keeping pretty well to starting on the hour and half hour the day we were there - 10:00, 10:30, 11:00, 11:30, etc. Since it's a single room and they close the doors when they begin, you may wind up waiting a full 30 minutes even if it's practically empty that day - given the format of the class, letting you into a half empty class 10 minutes in would be pointless.
The first class we took was the 10:30 class, and there was no "wait" - as in people who walked up at 10:28 still got into the class. We personally waited around 20 minutes, since we showed up at 10:10. The second time, we got there at 2:20 to try to get into the 2:30 class - we wound up being about 6 back from the cutoff. So my youngest daughter (who was the one who was really interested in taking it again) and I waited for the 3:00 class, while everyone else did other things in the park. By the time we got in at 3:00, the CMs were telling people walking up that if they lined up then, they'd be in the 4:00 class, so the wait was definitely extending as the day went on. So I'd suggest doing it right after your rope drop rides for the shortest wait.
It is a lot of fun, even for people with terrible drawing skills like me. The first time we did Baymax, which was kind of disappointing, but there were a bunch of 8 year old boys in the audience, so Baymax won in the vote. The second time, the illustrator just announced we were doing Donald Duck, which was great. My favorite moment was after drawing the initial circle & a few guidelines, my 10 year old daughter looked at my circle and at hers, and announced "We're trading papers!" and took mine.
No magic band needed.