We had our three y/o GS at POFQ Feb 4th-11th (so fairly recently). There were a couple of parents who tried to go down with their kids and the lifegards told them the child had to go down the slide by themselves, that they were not allowed to slide down with the child. They did let us stand at the bottom (not directly in front of the slide, but off to the side). My GS loves water, can swim some, but is not a strong swimmer. He wore a lifevest. He was funny, because the slide at POFQ sort of curves and just as he hit the curve, every single time he'd be yelling "Catch me Nana, catch me Nana!" Even with all the other pool noise, there was no way I couldn't hear him, before I even saw him.

I had plenty of time to get over to the bottom to catch him.

We used the pool every single day we were there and he loved that slide, going down it probably 20 times a day. Not once did the lifeguard watching the slide allow a parent to come down the slide with a child, nor did he allow one to stand directly at the bottom of the slide, until that adult's child was coming down.
I was at CSR May 4th-12th and saw the same thing over there. Kids had to slide down by themselves, but parents were able to stand off to the side to assist the kid once they hit the water.