I took it last month! Here's the current itinerary (as of July 12!):
You start at Epcot, boarding a bus near the main entrance. You go backstage, and enter the American Adventure through the rear of the pavilion. You watch the teachs prep the show for that day, and get to take a look at the stage deck. After that, you go onstage for a few minutes to talk about perspective and scale in the buildings in WS a bit. Then it's back on the bus, and you take a ride through the backstage access road, getting a look at the various trailers at Epcot.
Then it's on to the MK area, where you first visit Central Shops. You walk through there, visiting a whole bunch of different departments, including the sign shop (which is more interesting than it sounds) and the paint shop. Then you head to the CM parking area/entrance in the back of Tomorrowland, and ultimately enter the MK. You have a short discussion (I actually forget what it was about) in the Tomorrowland Terrace (on our tour, Phil Holmes made an appearance at this point, as he happened to be nonchalantly walking by), and then it's down into the Utilidors. You get the standard walk around of the Utilidors.
Lunch at Whispering Canyon follows.
After lunch, you visit the Studios, where you first stop at the maintenance bay for Tower of Terror, and you get to look at how some the vehicles are maintained and how they operate. Then you visit the central costuming shop, and get a tour of the (massive) costume department.
After this, you head off to Animal Kingdom, where you first tour the parade warehouse. Then you head down the road a little bit and visit the nursery. The nursery, incidentally, is the only backstage area where you can take photos. The topiaries from Flower and Garden were on display here when we rolled through. Our guide, Wayne, is a horticulurist by trade, so he knew a LOT about this area, and we spent an inordinate amount of time here.
Finally, you get to view the Jammin' Jungle Parade from a reserved area.
After the parade, the bus takes you back to Epcot, and you receive a special commemorative pin on your way out.