I personally haven't stayed there, but did a lot of research on it. I first heard about it over a year ago, before it opened, and was psyched just by the pictures (my boys, aged 12, 10 and 6 are all big Nickolodeon fans). The amenities looked great.
However, we chose not to stay there for our upcoming trip to Orlando this June. I read through numerous reviews on TripAdvisor, and there were so many complaints I had to cross it off the list. Hard beds, bug problems, run-down rooms and facilities (it's a refurbed Holiday Inn, but they didn't redo everything and it sounds like they should have), etc. Many of the reviews were really, really negative.
We were very disappointed because we wanted an awesome place to stay, but then I found the Marriott Horizons and booked that instead. It has awesome reviews and a pirate ship in one of the pools, and a big water slide in another. 2-bedroom villas with full kitchens.
Horizons is a timeshare property with only 24 non-timeshare rooms available, but we rented through an owner and got it for less than half the price of Marriott's rates. We're very excited to stay there because everything about it seems so great. Very highly rated on TripAdvisor. We're staying at another hotel for our last two nights (only drawback to the timeshare is that we could only get it for 7 nights), and we chose the Staybridge Hotel in Lake Buena Vista. Not as exciting as Disney or Horizons but it also has 2-br villas.
I looked to Disney's resorts but they were too expensive for the villas that can accommodate 5 people.
Hope this helps...