Maybe disapproval is too strong of a word, but he doesn't understand why it needed re-making. He's always been pretty vocal about his thoughts on CGI, and I agree with him:
"I feel it's a tool. As you know in a thirty-second commercial you see the most amazing images, the amazing image is no longer spectacular. It's become mundane because it's over used. The computer seems to be able to do anything. So people take it for granted, I think. There's something that happens in stop-motion that gives a different effect--like a dream world--and that's what fantasy is about."
Here's a video with his reaction when the movie was first announced:
http://www.youtube.com/watch?v=t4K4I59jUTs
For me CGI does nothing to get me excited anymore. There are the exceptions (Gollum, Davy Jones...) but for the most part, it always seems cheap and video-gamey. Seeing the reveal of the Kraken in the new Clash trailer, it didn't seem very impressive. I've seen that before with God of War. Seeing Harryhausen's Kraken for the first time, it still gives me chills. I guess I just prefer the stop motion aesthetic...