We also each received a bandana and the menu in all three restaurants is the same. Note that if you are in Animator's Palette that night, they do not do the light show.
I know some people love it, but I wasn't overly impressed. We had made reservations in Palo for our last night (4 night Wonder -- rotation PTAA). Pirate night was night 3 and as a result missed the light show in AP. I would have rather seen that.
But -- on other posts you'll see people really get into the theme and enjoy it.
Laurie