Watcher in the Woods
What can you really say about The Watcher in the Woods? Sure, it's a childhood classic and the first 3/4 of the film are good, but what in the world were they trying to do with the ending? The ending the finally released is disappointing because it is nothing more than a long expository that has to try to tie up every loose end with the story of an alien and alternate dimensions.
The endings they didn't release were flat out awful, the alien creature thing, travelling to the other planet where Karen is sitting in some sort of suspended animation...why not just make the movie the ghost story it was meant to be, or something that at least made sense with the rest of the movie.

If nothing else, it's great for the funhouse secene, that really etched something into my brain as a kid and the classic Disney movie look is priceless.
-mark
this movie scared me to death when i was a kid