Yep, I would plan on two days...especially if you want to do the kidcot stations along the way..that takes a bit of time, but, fun for the kids.
All the santas are wonderful, the extra things going on around the park.
I would recommend the dinner, chefs de france, or Alfredos with your CP show. Guarantees you have a seat. Otherwise, you may be standing outside the theatre. You can still hear, but, it would be much nicer to sit down inside and enjoy it comfortably.
Just make sure to make your dinner reservation for that night a bit earlier than you normally would. The popular restaurants are very busy on CP night, and there can be a wait time before you even get in. Last time we did this..we cut it very close as to making it to the show on time, because the restaurant we chose had a 45 minute wait..apparantly everyone else wanted the same restaurant.