If you don't mind driving then Mount Dora is a great place to visit on July 4th. It's a quaint lakeside town about 40 miles north west of Orlando which we discovered purely by chance a few years back but it now gets a mention in several guidebooks as a nice place to visit.
On Independance Day, they have a parade through the town and sweets & beads are thrown from the floats to the crowds which the kids love. The parade ends in the park where stalls selling food and drink have been set up and different bands play throughout the day to add to the atmosphere.
In addition to this, there are various contests going on(pie eating, hog calling, egg throwing etc) which anyone can enter and are such a good laugh to watch.
There are also free activities on all day for the kids, horse riding,bouncy castles, face painting etc.
The day finally ends with fireworks over the lake, not quite Epcot standard, but good none the less.
It's a good place to go for some good old American fun if you don't want to be in the parks.