Yes, I have already had my first experience with the new emotion.
Instead of vampires, I sent my sims to Sulani and added mermaids and ghosts. Sharks now make sims scared, being pulled underwater makes sims scared, seing ghosts possess things makes sims scared, thalassophobia makes sims scared, earthquakes makes sims scared. Paranoid sims used to get a tense moodlet when being near other sims talking, now it's a scared moodlet. You need 4 points for it to go to Terrified state, so it is the first emotion where the second state isn't named very .
Some interactions get renamed. For example (from my memory) Go... here?, Nap?, Sleep?, Panicked poop, and Cautiously shower.
Plus additionally, if you send a scared sim to sleep or take a nap, they will wake up earlier and you get a notification that they had a nightmare. One mentioned doing a test when naked and another said that they got everything they wanted (again from my memory). So that's back someway...
Oh, and haunted lot trait got renamed to spooky and had description changed (it no longer says "Locals say this place is haunted. Pah! What do they know?" but it now says that ghosts tend to wander into this lot).