Looking at it again, I'd say the only really bright color in the room is the rug, which I personally really like, so....
In all honesty I really don't think it's TOO bright, just maybe a bit much for some.
Also, I see that the beds seem to be further from the wall then they used to be. Was this deliberate or...? I only mention it because it gives the illusion that the kids' room is higher than the parents'.