The show most likely will not be an exact identical to World of color. World of color's fountains are all located on the same platform that goes under the water during the day, and surfaces during night. If they where gonna do the same thing with Rivers of Light they have to drain the entire lake to install the platform just like how they made World of color in Disney's California Adventure. However, it's not officially mentioned there will be fountains in the first place in the show, all that we know of right now is that there will be floating lanterns, possible projections on tree of life, and waterscreens. However, i cannot imagine such a show like this without fountains.
From a video that was posted 3 days ago showing an update of the Rivers of light area
i personally think this will be more of a barge show, where the fountains are on barges like IROE except on a much larger scale. there might also be performers on floats or boats like in fantasmic. The show is MultiDirectional like Epcots Illuminations reflections of earth as i can tell from the viewing areas.
Another reason why they wouldn't make the show set-up exactly like World of color is because before Cars land and World of color the park was basically failing from my understanding, which they probably want World of color and Cars land to be Unique to California's Adventure only.
However, i am very confused how they will get this opened in early 2016, i would think they would of just finished building the show area and viewing area in early 2016, then they would need to program the show, Train the people if there will be performers in the show, Make the soundtrack, Advertise for the show,ect.