Holy crap! Did the movie really look like that in theaters? That’s nuts.
More or less. There was a warning displayed before the film when I saw it, but apparently it was not in the film provided by the studio, but was added afterward by the theatres. Even with the warning, late-arrivers could easily have missed it with very serious consequences. I think it’s surprising that a big-budget film even made it to screens looking like that at all. A film that could potentially injure a viewer, were all the lawyers on vacation that week or something?
More info on the re-edit here.
EDIT: This is not intended to criticize narth at all for his effort. Presumably nobody will see his edit without full knowledge of what they’re getting themselves into, so no harm, good work, and as someone who saw it in the theatre, I can say it looks about right to me. Disney/Pixar, on the other hand, they should have known better.