We took our children (12 yo ds, almost 5 yo ds, and 2.5 yo dd) to both water parks in May. BB was far, far more enjoyable for the little ones. It also was less stressful for dh and me! The children's area at BB has knee-deep water to splash in, squirting water toys, racing slides, a winding tube slide, and several short slides for the less adventurous (like our dd at first). What I really liked is that there were plenty of chairs (some even with shade!) within view of the area. Once the kids got over their nervousness and we made sure they wouldn't leave the area, we could sit back and watch them play. After a while, our 5 yo wanted to play with the "big kids." Dh and older db took him to the even larger pre-teen area. While he wouldn't be able to play in this area by himself (deeper water), he had no problem with just minimal assistance. He LOVED walking across the frozen "ice". Because our younger children were so well entertained by the kids' areas, they really didn't want to go to other parts of the park. They thought the big wave pool was cool, but we belong to a large swim club with a small wave pool at home. Floating around on the intertubes was relaxing for dh and me but just ok for the kids. 2.5 yo dd, not normally afraid of anything, was flat-out terrified by the family rides. Go figure.
Now for TL: I love the theming at TL. However, this park always seems so much more crowded than the other. (Despite it being early in the day, we were unable to secure life jackets for the kids here. They were all checked-out within an hour of opening.) I think it has something to do with how the seating is arranged in little clusters. The children's area here seems mostly geared to really little children. There are water-filled paths that meander around the area. During our last visit, the whole area was filled with adults. Many did not appear to be with children. I guess it was hot and they enjoyed the cool water on their feet. Our youngest got knocked down a couple of times by adults who weren't looking where they were going. Hello! This is the children's play area. If your childen like squirting water, this is the place to go. Just about everywhere you turn in the kids' area is something squirting water...cold water. My ds loved this, but my dd HATED it! There is one slide with a pebbly, concrete bottom. It's really tough to actually slide on this, AND it eats bathing suits. There is a shorter version of the tube slide here. However, during our visit, there was only one attendant to help the children. She was at the top of the slide. The water at the bottom was deep enough that I needed to be there for our youngest. It's tough to be 2 places -- top and bottom -- at once. (There were attendants at both the top and bottom at BB.) My final complaint is that it is very difficult to keep your eyes on 2 children here. There are too many places where they can get out of your view in just a split second. I felt like dh and I spent our whole day chasing after kids. Outside of the one kids' area, there wasn't much for our little ones to do. Our 5 yo loved the slide into the wave pool. However, the waves our strong and come so unexpectedly (and he has so little fear) that dh had to rush out to grab more than a couple of times. Our dd wasn't too excited by the wave pool.
Hope this helps!