When I was a kid, I remember seeing this movie in theaters and absolutely loving it. The charecters were cool, the villains were scary and I just liked the whole kid transformed and swept into another world theme. That was a long time ago now, when I was 4 years old this movie rocked. Now as an adult watching the old VHS with children its... Well, its like one long Disney Acid Sequence. Admittedly I still kinda like the movie out of nostalgia, and I have yet to meet a young child that does not love this movie. Many of them find it quit scary, but that's part of the charm.
Bottum line: If your to young to be reading this, you will probably love it. If you are over the age of about 10, you will not. Parents and teachers should look into it if their child enjoyed movies like the Secret of NIHM or Alice in Wonderland.