Just got back home yesterday (spent some time in Seattle before heading home) and we had a FANTASTIC time! Thanks to everyone who participated in the FE exchange, that was my kids' favorite part!
I don't think there was a Royal Ball, but we did have So You Want to be a Mouseketeer. I "think" there was a Goofy PJ Party since I saw some pillow cases on the art table but my kids didn't go. There is also a Tea Party onboard. Its free, you just have to sign up for it when you first get onboard and they give you tickets.
They don't have the graduation ceremony anymore and they don't get the mortarboard hats either. Instead, they take all the kids to the Walt Disney Theatre for a show called "Friendship Rocks." The kids get red, blue or yellow shirts they get to keep and when they get back to the clubs after the show they have the counselors and new friends sign them. *Since we had these from our last cruise, I gave them to guest services on day 1 and had the characters sign them. So that's what the kids got to wear as we were debarking the ship.*
Also, a bit of stargazing was available. Elizabeth Mitchell, "Juliet" on Lost and new star of V, was on our cruise! I ran into her a few times, especially when we were going through Tracy Arm. Very pleasant.