It happens just before park closing (sometimes it happens twice a day) and its a little show in front of the castle where Mickey lights up the 15th candles on the castle with Minnie and Co and in the summer the Princesses join him aswell.
Its really worth staying to watch, it always brought tears to my eyes
Every evening and it is well worth watching, the flag dancers are amazing and keep your eyes on Tinkerbell at the top of the castle, pure magic.
I think the prince/princesses though were only added for the Christmas Enchanted Candelabration and not during the summer season, an equally magical ceremony but it didn't feature the flag dancers.
It depends when the park closes, what time Candleabration is.
If theres no Fantillusion (nighttime parade) then Candleabration is usually as the park is closing, so for example if the official park closing time is 7pm, Candleabration will start at 7pm, and go on for about 15 minutes.
Its well worth waiting for, and the Christmas one, with all the lights and the Princesses dancing - wow its so beautiful it makes you well up !
The music is mainly the same from the Once Upon a Dream Parade & Flying from Peter Pan movie but was composed by the London Symphony Orchestra for this, I don't think you can buy a cd for it but you can for the Once Upon A Dream parade. There isn't much narration to it.
Scroll down to the music player, as it's in French it's "Bougillumination"
Intro by Mickey then the first piece of the music is for the flag dancers then Mickey speaks and the next bit is where Mickey is on stage dancing and the flags have been exchanged for hats.
Then Mickey speaks again and the candles on the castle are lit.
"Just like we dreamed it" is also the parade music.
Also listen to "Flying" from Peter Pan (motion picture) by James Newton and "I do believe in Fairies" which is on the same player too.
But from now on Candleabration is not as magical anymore because from now on it is during daylight. That means you can't see the candles and Tinkerbell.
The best time to watch Candleabration is from November-February and during the summer month (if Candleabration is not at 7pm)
I saw it in June with daylight. It is a little strange when Mickey says: "Keep your eyes open because this is the most magical moment ever!" and then nothing happens.
But when we saw the show for the first time in darkness in November it was a whole new experience.
When we were there last Easter we saw the one in the early evening & you can't see much unless it is overcast. I happened to be in the park later that eveing & saw it again once it was dark & it was great but they never advertised there was going to be 2 shows, otherwise my sister & niece would hae come back in the evening