I arrived just before 7 for an 8:15 show and chatted at length with a CM. he told me the CC reserved area is only the area on the highest tier, toward the right facing the water. (can't see the pic now, but I can color it later if that helps.). The spots in the circle are for WCT. The CC area seemed small, he said its not been filled up, most people don't know about it yet.
I decided the reserved seating wasn't good for us. I have a 3 yo and wanted him to be able to see well without being held, DH is 5'4". The pics I've seen taken from that level at the rail just don't impress me. the CM let us use the reserved entry but go up to the boardwalk/wet zone and found us one of the few remaining spots at the rail, just right of the circle. So we didn't even use the reserved area, we were in a blue area. I thought the show was amazing, didn't get very wet, and could totally appreciate the projections on the water screens. 3yo could look through the rail and move around with no adults in the way. I'm sure others would have preferred the back, I think I would have felt crowded and would be holding my DS the whole time.
I had reset my expectations before the trip so I wasn't relying on CC to get us a spot i wanted. Overall we had a great day and are having a magical trip and WOC was so worth seeing.