I think the majority of the new stuff is much later in the year. This what I was able to find:
"When does the new Fantasyland open?
The new Fantasyland will be opened in phases, with the first opening in late 2012, and the remainder opening in 2013.
Disney confirmed in late September that opening in early 2012 will be at least one half the new double Dumbo, "The Great Goofini", which is the rethemed Barnstormer attraction, and the completely rebuilt Fantasyland train station.
Dumbo will be closing in its current location on January 9 2012, to be relocated in Storybook Circus. Disney list the reopening date of February 18 2012, so it seems logical that this may be the opening date of the the very first part of the new Fantasyland."
For a site that shows the latest construction:
http://www.wdwmagic.com/Attractions/...yland/News.htm