I recommend the World of color dessert party because it's very nice to have seats at the end of the day. Plan it early in the trip because you'll have a lot of leftovers that you can keep in your hotel room.
I did the Rancho del Zocalo Fantasmic meal a few months ago and I liked it. You sit on the cement during Fantasmic and after the show (first show), they let us stand up to watch the fireworks. The projections were on the water. It's not the ideal way to see the fireworks, but it was a nice bonus.
Blue Bayou has mixed reviews. I've only dined there twice. I did the Fantasmic package several years ago when they gave us a cushion to sit on. Now that they don't give a cushion, it's not worth it to me. It's not a restaurant that I would go out of my way to go to again for a regular meal, but it does have fun atmosphere