The Pirate Cruise is not a new thing and it is for children ages 4-12 (I'm 100% certain on the 12).
Anyway - my DD did this last year and she loved it . The get a Pirate Hat with Mickey ears and they go on a boat with other children and cast members to go to the Contemporary, Wilderness Lodge and Polynesian to look for buried treasure and they also serve the children lunch.
The children wear a life preserver and they come back with lots of loot If you have any questions, feel free to PM me because I probably won't be returning to this post to see if you have any questions here.