This area does have a large variety of climbs for really everybody but they aren’t really all in the same area. They are spread out. So if you want you kids to climb the 5.4 you really only have a 5.7 and 5.8 right next to you.
You can find information about this area at:
A note for finding beta on the area – Provo is full of college kids that are cheap on money, but whenever they aren’t studying, rich with time. The Mountain Project as a wiki is the best beta I can find for the canyon, even beyond a guide book. A lot of climbing areas are difficult to navigate simply by using Mountain Project, but Rock Canyon has good information.
It is one of the closer areas, like the kitchen, in Rock Canyon. It will probably take 15 minutes depending on your kids.
Moving off the main trail towards the crag is more steep and might require holding your kids hand and helping them.
No danger except normal hiking danger.
You are likely to get the route you want.
Extra Kid Fun:
There is a very small cave nearby that you will see as you hiking up there. It can be a fun detour for the kids to see. I’m sure they will ask. But thats on the walk and not at the crag.
Only dangers here are typical hiking dangers.