I listened to the first couple chapters on a trip across state, and I could stand to listen to any more than that. Colfer brings nothing new or exciting to the world of fairy tales, or if he does, it happens too late in the book. Nothing exciting at all happens in the chapters I listened to, and apart from a few jokes that I did laugh at, it was incredibly boring. The characters were cliched (especially the kids' teacher) and Colfer spends way too much time dumping unnecessary information on the reader/listener.
Colfer narrates the audiobook himself, and the best I can say for him is that he's crisp and clear (and sometimes, that's all you need in a narrator), but otherwise lacking in enthusiasm.
I would recommend The Sisters Grimm series in you're looking for a good fairy tale romp, and Christopher Paul Curtis' Bud Not Buddy if you want to hear a very skilled narrator (performed by James Avery).