Last summer I got certified with my son, who was 14. He turned 15 in March, and is my main dive buddy. Maybe we are both fools, but as far as I am concerned, he certainly gets it. His communication skills are excellent, his sense of safety is fine, and I trust him in the event of emergency. We practice our safety skills, and I am confident he has the presence of mind and the skills to get me up if something goes wrong. On top of that he is a strong swimmer (can whip my sorry ass).
I personally think it gives him a great sense of responsibility and individuality. Few of his peers carry any similar certification. He is has started mulling over the possibility of education and careers that involve the ocean.
I am solidly with Matt on this one. I was doing overnight hikes without adults when I was 15 and 16. I like the idea of giving young folks appropriate challenges and concomitant responsibilities. If we treat our young adults like children they will still act like children when they hit 18.
As for the 12 year old, as somebody else mentioned, it will probably be useful to wait for the facts. But the mere fact that she was diving (and it seems it was with adults, after all), that alone doesn't bother me a bit.