The only potential problem I can see is the option of food for kids. Yes, there are snacks for toddlers, but I don't know how toddlers feel about about eating tuna salad and chicken salad or wraps? Not that they can't eat those them, but it doesn't seem too "toddler friendly." I like other poster's suggestions of PB&J sandwiches, chicken nuggets, plain meat/cheese sandwiches, etc.
I would also play-it-by-ear for the opening of the gifts.
DS turns one mid-August! We decided that the theme would be Razorback/tailgate. Since it's mostly adults with very few children attending, the menu is catered more to adults with options for kids too. We're doing hot dogs, brats, hamburgers, and shrimp on the grill. Pigs in a blanket for the kids. Sides include pasta salad, fruit tray, vegetable tray, mini-twice baked potatoes, chips, cheese dip, and of course cupcakes and ice cream!