I think it looks great and I hope its not just for the festival. This is exactly the kind of landscaping they need to add to Future World (especially the east side) to give it a little more life and ease up on the concrete and late 70's looking benches and amenities. The area between Spaceship Earth and the fountain, for example, is practically barren and feels like a trek through the desert.
I love Future World, but it lacks atmosphere. World Showcase has it and I think that has a lot to do with the lush landscaping. Look at how people rave about the landscaping at Animal Kingdom. The little nitches at the Magic Kingdom are considered magical, yet FW has few. I think it's a critical element missing from Future World and I don't think adding some new landscaping will take anything away from the place.
I'm all for the name change too, though I think they should make it Discovery World instead of Discoveryland, especially as the latter's already being used in Paris and not for a former FW either. Drop Future (which makes no sense anyway) and add Discovery (which makes perfect sense).