Orca ocean is very well laid out and is as good as the American parks so don't be affraid of seeing animal cruelty.
The dolphin show is far more spectacular so enjoy the specticle. I'm sure when the Orca's are up to speed they will stun the audiences.
Don't book with the big firms, Thomas Cook wanted 47€ per adult and 25€ for my daughter (5), so I went independantly and the whole trip was only 70€.
I stayed in Las Ameicas and the coach took about 90 mins to get to Porto De La Cruz.
I went to Loro Parque last Friday and I can confirm Orca Ocean is open. There are 4 of the beasts and they are getting used to their new surroundings so don't expect too much.