For the present, though, I'd like to point out the state of the church of Martin Luther's day. Susan aptly does this in her post Reformation Day: A Reminder for our Times.
But look at Europe at the time leading up to the Protestant Reformation. The Word of God was held captive by a religious elite who were corrupt to the very core, hiding theft, adultery, greed, swindling, and lies underneath the guise of the name of our Lord. The Gospel was not being preached to the masses; instead they were hearing select portions of scripture read to them in a language not native to them, and the public were being taught that they had to help earn their righteousness. They were so frightened of the future of their souls, and so frantic to do anything to earn their way into heaven, that the poor would give away some of their last pennies to buy off a few years from purgatory or to save their souls from hell. The masses murmured rote prayers in penance, trusted in priests to be their mediators before God, and lived in utter fear and spiritual darkness.I recognise that selling indulgances is no longer an emphasis of the Catholic church. However, it was in Luther's time. This alone was cause for Reformation.
In closing, I've discovered another way that some are celebrating this important day! Please visit Your Sacred Calling to read about one church's Reformation Day Faire! It sounds like a great time! That is one way to ensure that children remember the events surrounding Reformation Day!