1)
It's really up to the families - if they are ok with sharing location data then they can keep it running. It seems like this would be most useful when the kids are 12 to 14 years old.
We have very plans for products that extend up and down the age range, but this isn't it.
2) All parties on the system get the same visibility; you can see your own history and your parent's history in the same way that they can see yours.
We've really tried hard to make the app useful to both parents and kids.