Early Blu-Ray review (with stills)
http://www.dvdbeaver.com/film3/blu-ray_reviews52/fantasia_blu-ray.htm
The image looks really good. They show stills of the censored version (which is on the disc), and the uncensored version. It looks like they recolored it to hide the grain that resulted on the original DVD when it was zoomed in. I don't know if that is the case. Feel free to chime in with your thoughts.