We did that excursion on the repositioning cruise. The trip was excellent! The crew was extremely attentive, the food was good (tuna sandwiches and fresh guacamole and salsa with chips), and theykept bringing out the margaritas (or whatever else you wanted). They would literally take the empty glasses out of our hands and give us a new one, whether we asked or not. There was certainly no skimping.
HOWEVER...
Be aware that the water that close to the Pacific is nowhere near as warm as it is in the Caribbean. It may be a little better in July, but in May, a wetsuit was pretty much required. Unfortunately, we didn't know this in advance. When we got in the water, it took a good 5 minutes or so just to catch your breath and breathe somewhat normally. VERY COLD! And the snorkeling wasn't that great. Not very visible, big waves coming in, although there were a bunch of fish to see.
BUT...
I still recommend this excursion if you don't care so much about the snorkeling part. On the way back, the crew actually sails the ship, so it was a very nice ride. And there was a section of netting at the bow, so the kids could sit around that and get splashed by the waves as we sailed. And on the way out, you stop at Los Arcos and the sea lion colony, all those sights you see on any of the water tours.
It was a heck of a lot of fun. But don't go for the snorkeling.
And this is all assuming you'll have the same ship and crew. I'd imagine they will be, but you never know.