I just learned about OpenOffice for Kids from the Download Squad even though I've used OpenOffice for years.
OpenOffice for Kids is smaller sized, less featured, but easier to use version of OpenOffice. It includes word processing, presentations, and spreadsheets. It is set up with a slightly different menu system with most commonly used functions as larger, more obvious buttons. The smaller file size and less cluttered user interface mean it loads and works faster.
I tried it out and agree with others that it is easy and fast to use and is probably a good choice for people out side of the grade 7-12 target audience.
I think it would be a great piece of software to use on net books also due to the smaller file size and faster loading and running.