Ray illustrations are usually lovely,and this story really plays to her strengths, with all the fancy dresses, luxurious castles, and lush gardens. Faces and anatomy are her weakest point, but still nice. The princesses seemed to be of several different races so one assumes they have some number of mothers (no wife/wives of the king are mentioned) which makes sense in terms of them all being the right age to be unmarried but old enough to go out dancing all night. Most of them are dark-ish so this might be a nice book for parents who are sick of blond barbie-looking princesses. Also a couple wear glasses, one is chubby, but they are all still described as "beautiful."
In terms of the text this wasn't a particularly interesting version. Kind of minimalist. The princesses don't seem to be suffering or under a spell -- there is no mention of them being ill, or being compelled to dance -- and it isn't stated that the father forbids dancing, so why they won't tell him isn't clear. Those who try to solve the mystery are not executed in this version so there's not a lot of tension with the plot.
This and Marianna Mayer's are the two best-illustrated versions of this story I've found so far. I don't remember Mayer's text that well but I think there was more of it than in this version, and more interesting. This one might be better for a slightly younger child who likes finding details in pictures.