Missing Part From TV Version

Ha ha, that's by far the most frequent question on this board!

The version you saw on Christmas Eve is the same version that was in the theaters back in 1992. The song was removed because Disney felt it slowed down the pace too much. The song was returned in the VHS and laserdisc versions. On the DVD, it's on the pan & scan version, but not the widescreen version. When the film eventually gets to Bluray, who knows whether the song will be there or not! :)

Well they could have cut if for time, but I think that would hardly be the reason they cut it since this is less then 90 minutes long. They might have been showing the version that played in theaters with the song cut out of its release that did get put back in for the video release, and then the older dvd release. And then they had another version celbrating the 50 years of Kermit the Frog, with the song gone from the widescreen release, and in the full screen release. And read this from the trivia section

The song "When Love Is Gone" was originally dropped from the theatrical release because Disney thought it would be too sad for young children. This led to an obvious edit in the scene it's supposed to be in and may cause some confusion to Scrooge, Gonzo & Rizzo's reactions. The scene was restored in the VHS and laser discs releases. However, it isn't used in TV airings of the movie and the first DVD release. It's available on the 10th anniversary edition DVD, but only if on full screen presentation.

Yes I do see your post is almost 2 years old, but does it much matter anyways since the Muppet Christmas Carol very rarely airs on TV. Some reason they don't have the version with it for TV stations if they do air it.