Yes, you can watch... I'm not sure how close you can officially get, but it was okay to stand on the other side of the water "cage".... I'd say about 30 yards from the action.
You might be able to walk on the dock area near the participation, but I have a feeling they won't allow it because they videotape and photograph the swim with their own video people. FYI, pics were $14 for the dolphin stuff... a little less if you get a photo with a bird. After we did the dolphin swim they made us sit in a room and watch a short video that the person filmed on the fly. In a way I was miffed about this, BUT we did get to watch ourselves on tape at least once. I don't want to pay $40 for the video.