This was a syndicated 1970s revival that ran for a couple of years. Not as well-remembered as the 1950s and 1990s versions, its most famous alumnus was Lisa Whelchel - “Blair” on “The Facts of Life”.
https://www.youtube.com/watch?v=LfA0VFxAUrM

I remember The New Mickey Mouse Club when it aired in the 1977-78 season. Unlike the original run which was in black and white, it was in full color and featured a more ethnically diverse group of Mouseketeers. Unfortunately, The New Mickey Mouse Club didn't catch on with viewers, lasting only 26 weeks of first run episodes.

But on the bright side of things, Lisa Whelchel would move on to a long and successful run as Blair on The Facts of Life. One of Whelchel's co-stars in Facts of Life's early run was Julie Piekarski, another Mouseketeer.