In my opinion this is the start of something much needed. Anything that raises awareness of the obesity epidemic and gets people thinking about their part in it is a good thing.
I don't necessarily think the restriction of TV ads is a good thing though, we were all kids once and all know that kids love sweet things regardless of whether or not they are on TV.
The problem lies with the parents, they should be restricting the amount of 'crap' that the child has access to. Too many parents want an 'easy life' so are more likely to give in to the child's demands, rather than face the wrath of the sugar deprived imp.
As Andria says, there should be a greater emphasis put on educating people about food and nutrition. Portion size is also a factor (especially in the US restaurants), children given portions way above what they should be eating, along with 'larger parents*' giving their children food portions based on their own idea of what a portion should be.
*generally, but obviously not always.
I agree that the parents are the ones who should be in charge of this, since they're the primary caregivers, food givers, etc -- but being control-freak about it can really backfire. I have a friend who's always had trouble with her weight, even as a child; she's just got the body type that stores "extra" very easily. Her mom was an absolute TERROR about my friend eating sweets, so everytime the friend was at my house? She would pile in the cookies like they were going out of style tomorrow. And once this friend was grown and away from her mom's control, she went from "pleasingly plump" to morbidly obese, and has stayed there ever since. I think if her mom had been less domineering about it, she wouldn't have the issues with food that she has.
When my son was pre-school-age, he was absolutely forbidden chocolate or any "cola" type drinks, though when we went out to dinner, if they didn't have apple juice on the menu, we'd let him have a sprite or 7-up. My mom swore up and down I was "depriving that child" but I informed her I was trying to deprive him of acne and bad teeth, as I've suffered my whole life. Once he was in school, away at friends', etc, I figured my absolute control was gone, but we still didn't let him get too carried away with soda or candy. He did end up suffering about the usual amount with acne, or maybe just slightly more than usual, given his heredity, but his teeth are good, his weight is proportional, and he learned for himself that if you're not used to eating a lot of fats, they will make you SICK! So now he chooses *for himself* that "Lean Pockets" are better eating than "Hot Pockets" -- because of the fat content! He also knows from eating my cooking that "good for you" and "tastes great" are often the same thing!
But educating the parents -- that's the real necessity. We used to see a friend giving her kids Entenmann's crap FOR BREAKFAST...

I'd be willing to bet those kids are obese now, and possibly diabetic.
Andria