we saw it a couple of years ago, we really enjoyed it - I took a party from my dancing school, bout 20 in total. I only threw it open to age 14+ and was glad i had, few bits i erm wouldn't have wanted some of the (not street-wise iyswim) 11 & 12 yo girls i teach to have seen it. Having said that, there were plenty of them there with their parents at the time. Plenty of good dancing, but not quite what i expected, not the same as the film.
If I'm going for the totally black-and-white version, no I wouldn't take my 11yo to see it (errr as you may remember i haven't got one, she's nearly 3) Would dare to say HSM3?????