PlayLimit: just for parents or good for kids, too?

The PlayLimit console is a token-based system of doling out TV and video-game time in 15-minute increments for kids ages 4 to 12, though the site also claims "it is certainly possible to use PlayLimit with teenagers" (which is something we tend to highly doubt).

This blogger's first concern with this device was the ease with which kids might hack any rudimentary
limitation to their playtime. PlayLimit's answer? Locking the composite connector inside the PlayLimit console itself. With a keyed entry to the token slot, younger game addicts may have to resort to old-school arcade hacks to work around this new intrusion to their unsupervised lives (or keep a second, hidden A/V cable to use as a spare).

What's telling is that a print ad for this "console" was found not in the latest edition of EGM, but in the pages of Time Magazine. The people behind PlayLimit state that "the tokens empower kids to manage their own time, so parents no longer have to be the 'time's up!' police." Is bringing
an arcade-style reward system into the home the right way to teach children the importance of limits and the benefits of non-gaming activities? Would gamer parents be interested in using this for their own kids? Or is this simply another way for parents to abdicate the responsibility of vetting their kids' video consumption—and the willpower to just say no?