I saw it last night and the audience seemed to be mostly adults, but there was a family (2 adults and 3 very well behaved and well dressed kids) seated directly in front of me. There are no sex scenes (or even in-your-face kissing) and there is no violence. There are a few expletives here and there, but probably nothing that kids won't have heard at school.
As for potentially "adult" subjects, there are scenes in which a few characters express their attraction for others, but one is brief and played for laughs while the others are simply sweet. There are also brief scenes depicting panicked, hateful responses to characters due to ethnicity/religion, but they are limited to verbal exchanges and there's absolutely nothing sensationalistic or exploitative in them.
This is a fantastic show and the bottom line is there are far, far more positive things for kids (and adults) to take away from it than there are areas of concern. Your kids may (hopefully) learn something from it, but it probably won't be new swear words and it definitely won't be new sex positions. You will leave the theatre feeling warm inside and with a big smile on your face.
==> this board is a nest of vipers <==
"Michael Riedel...The Perez Hilton of the New York Theatre scene"
- Craig Hepworth, What's On Stage