Ice Princess

Actually, your sense of physics is wrong.

Spinning objects have angular momentum which is a property based on the mass, radius, and speed of a spinning object. Since a skater's mass stays the same whether he/she is spinning or standing still, the other two components take over to balance out the equation. If the radius gets bigger, the rate of speed gets smaller and vice versa. So, if you stretch out your arms, you are then increasing your body's radius which will decrease your speed. If you pull your arms in tight to your chest however, you will decrease your radius and increase your speed. So, the movie is right...