The owner of our
travel agency called Disney today and confirmed that you
cannot leave and re-enter a park with this ticket. This applies even for the same park. So you cannot, say, go to HS in the morning, take an afternoon break, and then go back for dinner and Fantasmic. There is no re-entry.
I believe their intent is to market to off-site guests who arrive, park, and stay all day, as opposed to on-site guests who often return to their resort at mid-day or hop to another park in the evening. If the restrictions fit your touring style, then it could be a good deal for you.