I wish that they did have the electrical light parade at WDW, but the closest thing that they have is Spectromagic at the Magic Kingdom. I really like Spectromagic, but the electrical light parade will always have a special place in my heart!
There are currently only two versions of the Electrical Parade: Disney's Electrical Parade at DCA, which is basically a somewhat shorter version of the original Main Street Electrical Parade; and Tokyo Disneyland Electrical Parade: DreamLights, which is a much longer parade and generally considered to be superior to even the original Main Street Electrical Parade.
As previous posters have stated, MK now has SpectroMagic, which is a wonderful parade in and of itself.
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