I have tried what you imply-bet to use a new poprivet with the shaft removed-your wheels must be dead straight to get the lever pull as minimum as possible.
I also have a set of campagnolo levers in the shop to be modified into childrens levers- it will happen soon
this was a great solution
read this:
http://www.bikeforums.net/showthread...s+brake+levers
short reach levers do exist-
dia comp junior
http://capitaldealsonline.com/store/...smaller-hands/
CLB made several different junior size levers-in my opinion the best
shimano slx 105 short reach
(im a smartass on this topic!)
this thread is for junior roadbikes and brake lever reach is a real issue with childrens hands
http://www.bikeforums.net/showthread...nior-roadbikes