You don't say how old / big the kids are, and that can make a difference. We stayed in a 2 br @ VWL last summer: 4 adults , 4 kids. HOWEVER -- oldest kid in group was 7, and the youngest two were both 2 and tiny. We slept just fine, letting my sil/bil and their 2 yr old son have the master bedroom (ain't we nice?) while dh and I and our 3 took the 2nd bedroom. Our 2 yr old dd invaribly ends up in bed with us anyway, so she slept between me and dh, and our two boys took the other queen bed. I also noted that there was ample space in the "nook" area (beside closet in 2nd br) for an air matress or such, if we had needed to do so.
NOW.... at BCV, you could have a different story, since you aren't guaranteed the 2 queen beds as you are at VWL. FUrthermore, how big are those "kids", and how does everyone feel about a sleeper sofa, if needed? And older kids, if of different gender, may (or may not, haha!) balk at sharing a room.
About 6 yrs ago we put 9 in OKW 2 br (don't slam me -- it was 5 adults, 2 pre-teens, a 2 yr old and a pack-n-play baby). DH and I got the master room with our son and infant; my sister and her dh and 2 dds got the 2nd br, and my mom chose the couch (said it suited her back better). Honestly, it was still cavernous in there -- we invited other family in there for meals and conversation (they were staying in studios) and at times we had 18 total bodies present and it STILL didn't feel cramped. (EGAD, I'm sounding like you-know-who....)
If you intend to dine out and not hang out too much in room, and if all can agree on lights-out time (especially if the living room is someone's bedroom), you could do it. BUt for dining space, living space, etc., it will be tight. Now that our dd and nephew are 3 (and that much bigger and more active) I'm not sure I could handle our same accommodations again. I'm looking at giving them a studio next trip (but we will still get a 2br for ourselves.... what can I say, we're spoiled

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Cindy