I was there for Mardi Gras in 2013 when it was the Tuesday before Presidents Day and I didn't think the crowds were bad at all - the only day I really noticed them was on Mardi Gras Tuesday proper at the MK, and they were a fun bunch. I would assume that the Friday before, the schools are still in session, and most folks would be traveling on Saturday. I wouldn't worry about it, myself.
Your thread did make me go back and look at the rates, and I was surprised that the dates I would have gone in Feb next year (2/6-13) were actually about 6.75 higher than the April 9-16 dates I want to go (which made me feel better about my desire to go in April, frankly.)
Oh, ps, when I went in 2013, that Mardi Gras week was still Value Season, so they DID change it this year to raise rates for MG week.