I don't understand why Disney would need to take out anything to expand Fantasyland, there is the old Motorboat Lagoon Area, there is also a large area that is pretty much just dirt that they use to store water when doing rehabs on many of the water rides like the Subs, etc. and they could easily create underground storage for such water, which would actually make it better since they wouldn't loose as much water due to evaporation. Then they could build over that area and again not need to remove anything.
But there has been a long time rumor that Storybook Land Canal Boats would go away, which would also mean Casey Jr would go too I presume. While I would hate to see it go, it would free up a huge amount of land at an attraction with a very low ride capacity and since it is a water based ride, I would presume a very high maintenance cost.
I think Mr. Toad is probably safe, simply due to location, as we know Peter Pan is safe due to popularity and the uproar there would be if it were to be removed and the same goes for Alice in Wonderland, especially since both of those attractions received recent upgrades.
I could see Mr. Toad getting an update though.
I can't imagine Snow White being on the chopping block given that it is the one that started it all and was an opening day attraction.
Pinocchio could be up for the chopping block though, especially if they wanted to do a Beauty and the Beast ride right next to Red Rose Tavern, but that would also mean Snow White disappearing, which I don't think would happen, I think in that scenario, Mr. Toad does disappear and they move Snow White there. But again, loosing Storybook and related attractions would provide the needed space to do something on the scale of what is being done Tokyo. Sadly, I think it is all too likely that Disney will want to take the cheap route and copy this attraction rather than create something new and original for Disneyland.
Of course this thread is based on a video that is from last month, before they announced that Mickey and Minnie's Runaway Railway would be coming to Toontown and would not cause any attractions to be removed. It was originally speculated that this attraction would replace the Fantasyland theater and that could simply be what they were hinting at last month.
And there's the issue that Fresh Baked's track record isn't the strongest when it comes to rumors.