To expand a little on what was said before, yeah, the 1st part of the NYE show is the regular RoE show. Then, they add the NYE tag. At least for last year, the woman came on said something about, "Some of our World Showcase countries have already celebrated their New Year's Eve." They don't shoot off fireworks at the actual TIME of those countries' NYE, they do it during the 11:40 Illuminations show. So, for example, she starts with China and Japan and each of them, separately, shoot off some fireworks with nation-specific music. And proceeds that way, by time zone, whereby each country in that time zone shoots off fireworks separately, themed to their music. The finale, obviously, is America and the lagoon at large.
It requires some decision as to where you want to see it. I filmed them from Canada, which I liked, but when the fireworks got to France, UK, and Canada, I obviously could not see the fireworks shot off from those pavillions. In that way, the best spot might be from Showcase Plaza since you'd have the same problem from any other country.
What I did like about seeing them from Canada (specifically, the raised plaza right next to the shop (something Mercantile), is that you can peacefully watch the crowd flow madness below you. Watch everyone else herd like cattle while you're perched comfortably in your little spot. I was right up along the wall so I could rest drinks, camera equipment, etc up there. Granted, I also "perched" there long before the show (actually, before the first Illuminations and just stayed there).
Incidentally, they don't do the Christmas tag for the NYE show. So if you want to see both tags, you have to see the 1st show as well. It's cool that it's NYE and all, and exciting of course, so don't miss it, but I actually think there's more emotional punch in the Christmas tag. Walter Cronkite's voice is just perfect and the tag so perfect for what Epcot is all about. And the finale of the show is just as amazing as the NYE tag.
And, like the other person said, do go to MK on the 30th to see the NYE fireworks show they do. Also amazing. I was expecting the regular old perimeter fireworks but it's quite a treat. I didn't know where to point my camera!! They shoot off the same fireworks from the Seven Seas Lagoon that they do behind the Castle. I've shot the fireworks behind the Castle many times so decided to shoot fireworks behind Main St. How often do you see a whole show with Main St in the foreground!! Pretty awesome!