We stayed PPH concierge in May - we were on the second to the top floor and actually had a fantastic view of WOC, though from the back side. In fact, we were just watching some of the video we took and wowing over it again.
They were doing all the testing at that point, so we saw it over and over again, lol. Of course, I'm sure it was nothing like seeing it from the front, but you could make out The Lion King, Ariel, etc. I took some pictures with my p&s and will try to post tomorrow.
As far as fireworks, they were not running while we were there but we were told by the CMs that if you go to the pool area and walk to the far left (looking at the PPH) area by the snack place, you can see fireworks from there and there is a speaker on the snack building so you can hear too.
HTH!