This sort of thing works well for minor decisions, such as, whether the family is going to eat dinner then pray the rosary or if the family is going to pray the rosary then eat dinner. But it is absolutely insane to suggest the children have a voice in major decisions. There is a reason children are in the care of their parents: They haven't learned all they need to know to make such decisions.
I'm not saying that there is anything wrong with asking for the opinions of the children in many matters but I can not imagine (being in the midst of raising five children) giving them any real authority in those family matters. One or two kids have, on occasion, actually contributed to the decision making and have been able to articulate valid issues to consider, but this is not the rule.
It would seem to me that only parents (especially the father) of a family who just don't want to take any responsibility for any failure would even suggest such an arrangement.