No, they have a dessert buffet party though. I believe it's the night they pull out of Nassau and runs from around 9-midnight or so. Lots of music, dancing (dance floor that covers the big pool), etc....
They do but it is overshadowed by the show. The evening sailing is the excuse. Surprised Nassau doesn't complain about the sound system which must rattle the windows on the entire island. Disney does know how to party, although the Carnival/RCCl crowd might consider it lacking in fundimentals.