I just watched the first episode online here (dunno if this'll work for non-Canadians):
http://www.cbc.ca/video/#/Shows/ID=1383866555
It was...OK. It's possible that being a kid when KOTH was on the air has made it seem better than it was, so I don't know if that was disappointing or par for the course. The setup is intriguing--I'm a big fan of The League of Gentlemen, so it's cool to see that structure being imitated by the Kids. I liked some of the insane, random imagery, and it certainly warmed the cockles of my nostalgia, but I'd be lying if I said it had me rolling with laughter.
The best stuff was Mayor Bowman and his food-theft and his special son Rampop, plus the return of the two cops. Death is sort of interesting as a plot device, but comedically those scenes were way too broad and "zany". And there was a disappointing lack of McDonald/Foley action. Still, I'm compelled to keep watching.