There were three versions of CE3K:
1) The theatrical version, which ran for 135 minutes and featured the ending seen on DVD and television today
2) The Special Edition released in 1980, (132 minutes) which featured new effects that Spielberg didn't have the cash for when he made the movie, had new scenes, cut a lot of other scenes out, and featured shots from inside the ship (which most fans, and Spielberg, disliked).
3) The Collector's edition (137 minutes), which combined scenes from both versions, and restored the original ending. This is the version on TV and released on DVD.
The laserdisc in question features the 2nd version.
Edit: And I just want to note, I would like to get a hold of this...Rikter, any plans to add this to the upload queue?