If you can squeeze in a day at SeaWorld on your vacation, I highly recommend doing so. SeaWorld's Christmas Celebration is amazing, and well worth a visit when your trip falls during the holiday season. The special events and attractions are all included with your regular admission, and admission is free for 14 days with your DC ticket. Your kids can ride the Polar Express, the family can have their photo taken in a snow globe, you can visit with Santa at the North Pole, and enjoy the Sea of Trees (and the special holiday-themed shows) after dark. Its awesome.
As for DC, the dolphin swim is really only a very small portion of your day. The swim itself is about 30 minutes long, plus you will have a short pre-swim orientation session with your small group before heading down to the beach. Afterward, you will get the chance to view the photos taken by the in-water photographer. So maybe an hour all together.
The other things to do will be the Grand Reef (snorkeling with the tropical fish), the Aviary (where you will be able to feed the free-flying fowl), the Freshwater Oasis (featuring the marmosets and the Asian otters), and the lazy river (which is longer than you will expect.....probably a full 20 minutes or more to do one rotation). They have a beautiful sand beach that you also may want to enjoy....building sandcastles, or stretching out on one of their loungers if the day happens to be warm and sunny.
If you are doing the dolphin swim, try to budget for the purchase of the photo CD because you will want those pics. I think it was about $169 (or something close to that) for the CD of all the photos taken during the day (including those from the Freshwater Oasis and Lazy River) plus two photo key chains and an assortment of 6 x 8 prints of your choosing, but they were fabulous. Your husband won't be able to get anything close to as nice from the shore, as your backs will be to your DH while the photographer will be in the water, right in front of you. Each person's dolphin encounter includes feeding the dolphin, petting the dolphin, kissing the dolphin, and then getting a "ride" (holding on to the fin, it will drag you through the water). The photographer will capture the kissing, "swim", and do formal photos of your choosing (you alone with the dolphin, each of the kids by themselves, and any group shots you wish to have done).
All your food at DC is included (breakfast, lunch, all snacks, and all drinks including alcohol) so between each of your park activities, you can eat and snack until your heart is content.
You will LOVE Discovery Cove. Its an amazing park. We have been there twice, and have already purchased tickets to return again in August
. If there are any other specific questions you have, feel free to toss them out!