Hi Amanda! Your daughters are at such a fun age to experience the different attractions and shows at the Walt Disney World Resort! I have a 3 year old and it is so much fun to watch him experience things both for the first time and even repeat times! Each theme park offers a wide variety of attractions for the little ones to experience. I understand your concern with what attractions your 2 year old will be able to ride. Keep in mind that any attraction without a height requirement would be okay for your 2 year old. I consider 40 inches to be the magical height mark to ride some of the "big kid" rides!
The two parks that we have had the best experiences with our son have been the Magic Kingdom and Disney's Animal Kingdom. Both of these theme parks offer a great choice of both attractions and shows that all ages (and heights) can enjoy. Please see the links here to view the various
Magic Kingdom Attractions and
Disney's Animal Kingdom Attractions, complete with descriptions and height requirements. The Magic Kingdom offers many attractions that all ages can enjoy! Disney's Animal Kingdom offers many interactive experiences for the little ones to view and watch a variety of animals in their natural habitats.
Typhoon Lagoon will be closed for its annual refurbishment through March 17,so that will definitely limit your choices on which water park you will be able to experience. The average temperature in Feb. is in the mid 70's during the day time. If you did decide to experience one of Disney's two water parks I would try to get there right before lunch. This will hopefully allow the morning chill to go away and will be more comfortable temperature wise.
I hope that you have a magical vacation and please feel free to come back and ask any other questions you may have!