Yes,
Recently took DS (5) to Disney on Ice, in preparation for taking a
Disney Cruise!
Which one are you going to see? We saw the one with Snow White, Little Mermaid, Cinderella, Dalmations...
There was not what I would call 'Interaction' with the kids in the audience. Most of the show is scripted and taped with the voices and the music ( The skaters 'skate', not 'do voices' )

Of coarse, the show is directed at the kids in the audience, and the cast members skate around the arena so that everyone feels included.
The first half was fantastic! Great sets and effects for Snow White! And, Sebastian, who was the real main character/star of The Little Mermaid was just incredible! Do not know how anyone had the stamina and skill to skate like that, in that costume, thru a whole 20 minute piece, nonstop!!... (and just wait till you see the last of Ursula!) The last half was very short...
One word here for your 2 year old... There is emphasis on the villians in each piece. If your little one is easily frightened or overstimulated- then just be aware of this beforehand.
Hope you all enjoy the show!