The show itself was great! The water screens are surprisingly clear and the colored fountains help set the mood for what is on the screen. There are clips from pretty much all of Universal's most memorable movies over the last hundred years. Everything from action, to comedy, to romance, and of course horror. And the commentary from Morgan Freeman really brings everything together. It even gave me the chills a couple of times... or maybe it was the water and wind!
Universal did a great job all in all. I have seen some of Disney's night time shows and I'd have to put this on par with them. This show is way better than the Universal 360 lagoon show in my opinion.
I asked a team member and they told me that the show should be running in soft-open every night that the park is open until 8:30pm from now to the official open on May 8th (weather permitting). To find out for sure, check for signs around the lagoon that say sneak preview or ask a cast member at the gate. 
The 360 show was pretty good, but I think the mist projectors are a cool way to have a temporary screen. The big white globes in the lagoon always looked out of place in the daytime.
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