There is one problem with this... kids usually do not want for anyone to know what they're talking about and to who, so I doubt they'd want to use it if they knew it was heavily moderated and everything they say was read...
This is a message, a message from the all-mighty (me): You shall go here, you shall not complain: Breeze's Corner.
The reason they removed most Kids Chatting Site is because of "Internet Predators" Known as "Pedofiles" so I think there should NOT me a chatting site. Unless they have Admins on all the time being protected. Emails, MSN, Yahoo, Bebo, Myspace stuff all should be stared out (*******) You get the idea and maybe ban the person who is saying it. That should get rid of most of them.