Mostly outside. The only inside parts are at least 1 ride, utilidors, and lunch. When we did it only Haunted Mansion and the utilidors were inside along with lunch.
We were inside only for Tiki Room, HM, and a lengthy amount of time in the Utilidors. Lunch was on Tomorrowland Terrace and we also rode Jungle Cruise.
We went in August last year. It's definitely mostly outside walking, but they do a good job of keeping you in the shade when they stop to talk (on Main Street, outside Jungle Cruise, across the tracks behind Splash, outside Haunted Mansion).
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