Director Eric Schaeffer deserves credit for working hard to address the numerous shortcomings of his Kennedy Center production of Stephen Sondheim and James Goldman's towering musical classic 'Follies.' Performances have been retooled, staging and pacing tightened, misconceived choreography redone, misguided casting changed, and a much-criticized red dress has vanished. As a result, the show's potentially vast emotional power, smothered in its initial Washington, D.C., run, has begun to emerge. Unfortunately, problems remain. For those well-acquainted with the work, the result is a cruelly tantalizing miss. For audiences unfamiliar with 'Follies,' this production may prove more satisfying.