Nice! I haven’t gotten a new Netflix account to check, but I’d assume the US version is the same.
From what’s confirmed below, I think it is…
http://www.imdb.com/title/tt0089114/board/flat/208766193?p=1
Explorers aired again this morning (but in SD) and this time there was no continuity announcer voice-over during the credits, so I could hear the “I know you’re out there, I can feel the popcorn!” gag.
We know for certain: the theatrical release is on Netflix and UK TV. The re-edited US home video version is on the Paramount DVD.