Yes, We've used Powerglide for children. My kids like it, but it is very expensive. Powerglide for Children has 4 cassette tapes, a teachrs book, and a student workbook that has the storyline written in it, along with some illustrations.
Kids follow along in their workbook as the cassette is played.
The material is presented in a very interesting way for children. I think it would be best after a child is reading, so that they can follow along better, but my 5 yr. Powerglide interweaves Spanish words with an English story line. It also has rebus stories and some other interesting variations. I am not sure that the speakers are natives, and there is at least one mistake in the written part.