In my opinion if you feel you have to check up on them with such a tight reign then to be honest neither you or they are ready for it..
I have an eleven year old daughter and ground rules where set at the start and so far it's been ok apart from trying to install smiley icons.. 'threat of a clean install works as I did it on my nephews after a Kazza fetish'
Be real carefull with the keyloggers as most AV's and firewalls wont allow them to run anyway,
and do you really really want to see everything they type as what's written will be out of context when you read it..
