As a former CP and Campus Rep, the first thing to consider is college credit. Have you talked to your university about whether they will accept credit for the course? Not all universities will let the course transfer over, my university for example gave me 3 credit hours for the college program (3 credit hours for completing an internship/co-op) but would not give me any credit hours for the college program classes since they were technically under a different accreditation association.
If you know the answer to that question already or just want to take the class for your own personal development, my personal opinion is that they are not overwhelming by any means. Most classes meet 1 day a week for 3 - 4 hours (usually it will be on one of your scheduled days off) and there is usually a 1 - 2 projects and a final exam. The material usually is not overwhelming since the instructors know you are working at least 5 days a week and the material I found gave me a lot of practical knowledge. Another thing is that the classes do not meet during the busy times. For example when I took a class in the Spring 2005 session we did not meet for 2 consecutive weeks during Easter and Spring Break since most of us were on mandatory 6 day weeks. I imagine it is similar for the Summer (July 4th week) and Fall (Thanksgiving and Christmas week) sessions as well.
Overall if you are interested in the subject I would say go ahead and take it. You have a chance to meet some great people outside of your apartment and normal work area, and the workload is very manageable. Remember this as well, unless the class is a requirement to get credit for the program through your university, you can easily withdraw if you feel the material is taking up too much of your free time and it does not hurt your standing with Disney at all. When you get down on your program go ahead and ask about it there since they will be able to give you an even better understanding of the courses.