It is a "free for all". do what you want when you want for as long as you want. I am a Disneyfreak (hence my name) but this was certainly a highlight of my trip.
I wasn't sure how it would work when I we booked but it was nice to just bring us and our bathing suits. You get wet suits, vests, snorkles (which you get to keep), goggles (even ones for those who need glasses), sun screen, food, shampoo/conditioner, towels, soap and of course...all you can eat food.
The price was high but I think it was well worth spending it. We also did the dolphin swim and bought a CD with our pictures. Heck, we figured if we're spending hundreds on going there and doing the dolphin swim (very cool) we might as well splurge on the pictures to prove it.