I'm intrigued by this system you suggest that manages to get an entire engine for obtaining 'verifiable parental consent' squished into a single configuration bit, along with an engine to directly notify parents, to allow parents to view all the collected data, and provide deletion from backups. That's one busy bit.
http://en.wikipedia.org/wiki/Children%27s_Online_Privacy_Pro...
It's even likely that they already have such a thing in place for debugging purposes.