I see the suggested age is 14+, however I thought this would appeal to my kids (ages 8 and 5), anyone know if this will be too advanced for them even with me and my wife as part of the team? We currently play Hero Kids so they are familiar with RPG game mechanics.

I guess if there is an adult present who helps with the texts (and probably unusual fantasy words), it might be suitable for younger children. In my experience it depends a bit on the child, too — I know 6 year old who play Memoir '44 quite well and I was playing Choose Your Own Adventure books on my own in elementary school.