The primary change is going to be the music. I think that most of the current animatronics will stay, though perhaps be re-dressed a bit. They are spinning the ride narrative as primarily being about the animals from the movie story, which fits with trying to re-use a lot of those small animatronics. The riverboat will almost surely stay put as well, but now it will become a parade float with a 'gator band playing jazz tunes instead of a can-can line of chickens. (It may remain a boat, actually; boat parades are common during Carnival.) I expect that we'll see the human characters mostly as static mannequins or painted background images, with maybe one animatronic figure of Tiana.
I have a feeling that the vast majority of the inside of the ride will not change in appearance at all, except for the lighting and the addition of a whole lot of faux Spanish Moss and "water lilies". (FTR, S. Louisiana doesn't really have more moss than any other part of the Deep South, but it's an easy way to add shadowy atmosphere to a dark ride.)
What I would like would be the addition of a new restaurant to that back area (or even a food cart) with some Cajun specialties. Crawfish bread would be a WONDERFUL idea that people could eat in the queue (trust me, it sells like there is no tomorrow at Jazz Fest food stands. It's rather the size and shape of a hot dog, so it's good walking-around food.)