No, it's not. That cue is called "Believe Your Eyes" (8m4), and La-La Land placed it in its proper chronological sequence, which is after the Smee's Plan scene (8m3). In the final finished film, they removed an entire day of events (notice the deal Tink makes with Hook at the beginning of the film is for "3 days", but then only 2 days are shown), so as a result the "Believe Your Eyes" scene, meant to end Day 2, was mostly removed - but the very end of it (the "Goodnight Neverland" part) was moved to after the "When You're Alone" song (which was the intended ending of Day 3).
This is all briefly explained in the liner notes in the booklet that came in the film, but explained in longer detail by John Takis here on Tim Burden's radio show:
http://soundcloud.com/timburden/movie-m ... ok-special