The title's quite a mouthful, but I could summarize the movie in these words: Usual juvie story mixed with Greek mythology. Okay fine, something like Harry Potter.
Directed by Chris Columbus, the same one at the helm of the first HP movies, this book to silverscreen adaptation is about a teenage boy named -- who else -- Percy, who learns that he is a demi-god: son of a mortal woman by Poseidon, the god of the seas. For some reason, Zeus and everyone else in Olympus thinks that Percy Jackson stole Zeus's thunderbolt. Wanting to prove his innocence, he goes on a quest along with his BFF Grover, who is actually a satyr assigned as his protector, and Annabeth, demi-god daughter of Athena.
That's just the tip of the iceberg, since I don't want to spoil it to you guys. All in all, it was quite entertaining. It would make your kids a bit interested in Greek mythology. I don't think Hades would have fires in his Underworld, though (it isn't exactly Hell, you know). Also, from the synopsis found in the series' website, I would think that Percy's character wasn't explored that much. And again, it wasn't clear why he was accused of stealing the lightning bolt.
Still, it's quite nice, and I would suggest seeing this with your children. If you're a kid at heart, then this one's pretty much a feel-good movie right for you. Doesn't have a lasting effect in the memory, though. You've been warned.