This sort of things always amuses me. A couple recent CD releases have cover versions of The Time Warp, both specifically targeted toward kids. Kidz Bop: Halloween
(The Spookiest Songs Sung By Kids For Kids)
"the Kidz Bop Kids are back with kid friendly versions of 16 of the biggest Halloween hits of all time"http://www.amazon.com/Kidz-Bop-Halloween-Kids/dp/B001CITR94/Undeniable by Alvin & the Chipmunks
"Alvin, Simon, and Theodore are back in 2008 with their first new non-soundtrack album in over 15 years."http://www.amazon.com/Undeniable-Alvi-Chipmunks/dp/B001FRCP3M/
And in case you were wondering, yes I'm pretty sure the Time Warp on the Chipmunks CD is the same one that was on the "A-Files" CD they put out some years back.