We were scheduled for the same time last June. It worked out perfectly. we had time to enjoy the ship and eat lunch on the ship and then go for excusion. We were a little rushed to get dressed for the early dinner seating but being a little late is OK.
If you book through DCL you all meet at a designated place on the ship early in the morning. As a group you all take a ferry(15 minutes) to the Blue lagoon ferry terminal then another ferry to Blue Lagoon (35-45 minutes). Once at Blue lagoon you are assigned a time Starting at approx. !0:30...and so on. After you are done you can take any ferry back to the Ferry terminal etc. The ferrys run on a preset schedule so you have to time them accordingly. If you book the excursion yourself, not through DCL, they give you a time. This does allow you to go to the Blue Lagoon when you want to and not go real early and not do the Dolphin Encounter until later.
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