If it is not too much of a stretch the 1 BR suite is a great space. We slept 4 very comfortably and had family visiting with regularly 6-7 in the room comfortably and at times up 9 or 10.
The sleeping space shouldn’t be too difficult, the pull out is a regular size couch pullout. The real key is if the teens are going to be sleeping in regularly. The space in the room is great but if you are planning on being in the room for extended periods of time and the Murphy bed and the couch bed can not get put up it will not feel as spacious.
Granted it shouldn’t impact the parents since you have your own bedroom area and can open the wall between the bedroom and the dining area and gain extra room and views to the veranda.
I would be more concerned about bath space. There are two baths in the 1 BR so getting ready could be problematic if every one is doing that at the same time. Granted the 1 BR gets the bathtub so 2 can be showering and one bathing all at the same time compared with two family staterooms there are only 2 showers. On the flip side, there are 2 sinks in the master and one in the hall bath where the 2 staterooms would get 4 total sinks 2 in each split bath area.