There are a few things we can gather here. First, these pictures are taken from the bridge leading from Asia to Dinoland. The construction on the far side of the lake, therefore, is that of building and extending a viewing area for the show, which will be on the lagoon. We don't know yet whether there will be seating (like Fantasmic!), or if it will be a standing show, (like World of Color at Disney's California Adventure).
Second, we see that there are things afoot under the water. I am guessing that Disney is building all sorts of wonderful magic machines to put under the water. We also know that there are plans to include lights on the Tree of Life, as well as fountain and laser effects. One might guess that Disney's new projection system (now used on Cinderella Castle for different night-time shows) could have a huge impact on this show.
It is exciting thinking about what Disney is up to! I'll keep you updated.
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