Last year the fireworks were at 9:15pm, only shown once. The parade was twice - 8:15 and 10:40. Last year they also had regular fireworks at park closing - 6:00pm.
The fireworks were the best I've ever seen at the MK! They are 360 degrees. It was so cool having these go off all around you from every direction. I was in Fantasyland when they went off, and oh what a display.