Just tried it last night. It was pretty cool. My 24 month old can't use a mouse at all, so we have to point. She didn't like all the repetition. I gave her the test at the beginning and they started us off at reading age 4.75 (highly doubtful.)
She knows all her letter and letter sounds, but she doesn't want to find V 10 times in a row. She also pointed out quite a few sight words correctly in the test, but I think it was a coincidence... maybe.

She's getting a LeapPad2 for Christmas, so maybe that'll work for her.