Waterfall Lands

Water fall lands is a level found in certain copies. It is usually on the 2nd floor, though some copies put it on the 4th floor. The level is basically the model of bob-omb battlefield with a waterfall cutting through half of the stage (from the mountain to the edge to the level), and some textures being a brighter version. The layout of the objects is different too.

Enemies and Objects

 * Skullrocks: Skullrocks are enemies that appear near the waterfall. They have a bob-omb shaped body along with a skull on top of it. It does a crushing attack that deals 2 damage. You defeat them by ground-pounding the back when they try to crush you (similar to a whomp).
 * Skooters: Skooters are basically purple skeeters that float on the top of the water fall. There isn't any way to defeat them, and if in contact with them, they will deal 1 damage.
 * Red Koopa: Red Koopas are koopas that attack when approached. They deal 2 damage when approached, and to defeat them, you have to jump on them and then jump on their body. They drop 2 blue coins when defeated.
 * Blue Stars: Blue stars are a special type of star. If you collect five of them, you get access to a dumbed-down version of the Eternal Fort (still hard but much less things).
 * Waterfall Coins: These coins are white coins that show up at the bottom part of the waterfall. They give you 10 coins and heal 5 health points each coin.

(yes there are some regular enemies too in this level, they're just not listed)

Missions

 * 1. CLIMB THE MOUNTAIN
 * 2. THE OMEGA SKULLROCK
 * 3. WATERSLIDE
 * 4. KING BOB-OMB REMATCH
 * 5. RED COIN CRAZINESS
 * 6. FLY TO THE MOON!
 * 7. 100 COIN STAR (PRESUMABLY)

Climb The Mountain
The first mission is pretty simple. You scale the mountain, jump across the rocks that go through the waterfall (along with dodging the skooters), and reach the top to get the star in the middle.

The Omega Skullrock
You go to where the skullrocks are, and defeat them. Like the 2nd big bully fight in LLL, the omega skullrock bossfight falls from the sky. It is basically the same as a normal skullrock, except bigger, and instead of dealing 2 damage it deals 3. When you defeat it, you get the star.

Waterslide
The shortcut located on the mountain, used for getting through the mountain faster, basically turns into a warp to a slide. The slide has fake water on it, and has a gimmick that makes it faster than usual. It is also very hard, but it's not very long. Once you get to the end, you get the star. (Oh, and if you are wondering about the other warp that takes you farther from the top, it's actually modeled out of the stage, so you can't actually get there).

King Bob-omb Rematch
At the top of the mountain, there is king bob-omb. When you go to him, his dialogue is: "You again? I thought after we battled, you'd go away! Well whatever, if it gets me to protect my new land, I will fight you!". The battle is almost the same, but king bob-omb has faster movements. After you defeat him, he just says "..." and then turns into a star. Then you collect the star.

Red Coin Craziness
Just as the mission name says. You collect the red coins and get the star.

Fly to the moon!
You go into a cannon and aim for the moon in the skybox. It will warp you to a moon sub-area, where you have to find a tunnel, which is a short but difficult slide down to the bottom, then collect the star.

Theories
The stage appears to be not as abnormal as other scrapped stages. This could've meant that the course was originally gonna be an actual stage, but got scrapped. This is also home to a scrapped enemy that was partially found in the gigaleak, the red koopa. This stage could've been the stage for the enemy.