We stayed at the FW last year and was quite impressed with the holiday decorations, seemed to me the best decorations were close to the Outpost so you could walk, stop by guess services next to HDDR and ask for a map.
Usually they run the Disney Electrical Parade around 8:00pm and best views are from the beach where the boat leaves for Magic Kingdom. One time we were returning from Magic Kingdom and rode right past the Electrical Magic Parade in progress on the last. My kids loved the boat launch to Magic Kingdom so make sure you try this transportation option either to FW or when you leave.