You can't go wrong with either show. I personally like WOC better, but before that came along fantasmic! Was my favorite. I grew up with it, two or three times every time we went two or three times a year. So for me, woc, but both are great.
As for dining, since you have two girls I would say arial's, the food is not the best but you will see 5 princesses while eating rather than stand in line to see 3 for over an hour. My second choice for that age would be minnie and friends at the plate, there are about 10 charactor's, minnie, tigger, pooh, eyeyore, rafiki, hook, fairy godmother, max, chip and dale, and more, definately the biggiest charactor bang for the buck, and again saving hours standing in line for them. Food is breakfast.
After that you have goofy's, storyteller and surf in, all good. I guess it would depend on what the girls like for that age. Story teller to me is good but more boyish, better food, and not as many charactors, woodland charactors. Surf in I have not done in a while, great charactor interaction, but our little one did not seem to like it as much, food different and okay. Our little ones loved goofy at that age, but did not like it past 5, I think it's just a little to much for them, more formal, more confusing and not as many charactors, food so so, it can be hit or miss. If going for food, I would say storyteller, if going for charactor I would say minnie and friends. If going as sit back and relax after a long day and want to spend at least an hour, I would say Ariel, storyteller or goofy. If going for adults more than kids story teller and goofy. All are good not great, remember most of what you pay is not for food and service but for charactor interaction.