The endings diverge when the big tote board comes up one dollar short. In the released film Fozzie bumps it and we see they're actually millions short. In the original film they're always one dollar short, and when it looks like all hope is lost Waldorf and Statler pipe up from the balcony. "That wasn't so bad after all," they say, and toss down a dollar. The Muppets are victorious.
On the one hand, I kinda expected that... even though it makes a strong ending it kinda... well... that ending has kinda been done already... At the end of the Sesame Street special Stars and Streets Forever, Oscar the grouch confronts the villain who's trying to demolish Sesame Street. That's a very similar ending. A stronger one, maybe... but I kinda like the payoff that Gonzo spent 10 minutes of a movie winding up a bowling ball to throw, only to let go of it, conking Tex in the head. Also, from what I read, one of the alternate takes was to be Tex laughing at Fozzie's Fart shoes. Overall, I think the movie sends a strong message that fans mean a lot more to a franchise than those who own it. To see them come out the door and greeted by hundreds of fans when one guy was trying to take them down, that's what I walked out thinking. Plus, at least it didn't end with something becoming a landmark or someone recording Tex Richaman and playing it to an audience.
However...
See, another deleted sequence involved a flashback to Tex's childhood. We learn that he was entertained at his birthday by the Muppets (remember him saying at the beginning of the film that he's been a fan since he was a kid?), but for some reason Tex can't laugh. He can't receive the third greatest gift the Muppets have to offer. It's traumatizing for him.
That sets up his desire to destroy the Muppet Studios, as well as his 'Maniacal laugh' gag (although the reveal is later in the film, so his initial 'Maniacal laugh' would still work as a non-sequiter). What's more this sets up Richman as the ultimate anti-Walter, a nice touch. At the end of the film Gonzo would still have hit him with the bowling ball, which would knock loose the block that kept Richman from laughing - we actually see him laughing in his hospital bed in the finished film.
That really SHOULD have been kept in the movie ONLY to help make the ending they had work. He did have a very childish vendetta, and it would have made more sense than just "I want the oil." I really hope for an extended edition on DVD. Not just the deleted scenes... adding those sequences back in like they did with that musical number from MCC. I'm sure they took no pleasure from cutting everything, though it seems like they filmed a 3 hour sweeping epic and just cut everything to a certain brisk pace.
Of course... there is one OTHER ending...
in one of the early drafts, there WAS no real Tex Richman. It was really Kermit in a human costume, and the entire stunt was to get the gang back together. While it did speak to Kermit's character, I don't think I would've liked that ending that much.