World of Color has two different kinds of packages you can get. The dining packages don't include seating. You eat your meal earlier in the day at the restaurant and then you get a pass for the reserved area, which is standing only but is pretty much front and center. You still need to get there early if you don't want to be stuck standing behind other people in the dining package area. It's a good option if you'd like to eat at one of those restaurants anyway.
The other WoC package is the dessert package, and that one does include seats, a table, food and drink right there in the viewing area. In my opinion the view is not as good as if you got there early and stood up front, but it's still good. You're farther back in the viewing area but elevated slightly so you can see over everyone's heads. It's a good option if you don't like dealing with crowds or standing during the show, and you don't need to get there very early if you're not picky about which table you get.
My understanding is that the dining packages for the parade do not include seating, though you can sit on the curb if you get there early. I've never done them or the Frozen package, so I don't have much opinion to give on value. I think that's it for dining/entertainment packages for now, but if you'll be there after Fantasmic opens back up there might be packages for that.