When a child is taller/older and you're able to instruct that child on how to handle being rushed or flogged by a rooster, then you may be able to lessen your wariness-an older child can deal with it if taught well; however, when a child is hardly taller than the rooster in question, you can imagine the damage that could be done by that rooster with one well-placed flog in the face of the child. It's just a special time you really have to be extra careful.
Think of it this way: a rooster is like a stallion or a bull, but in a smaller package. Few folks would allow their child free reign to play around either of those male animals for fear of serious injury. Same with a rooster, who does often seem to view a miniature human as more of a threat to his hens than a human adult, who moves with more calm and purpose and understands the animal's behavior and boundaries.
It's true that on rare occasion, you may have the Golden Retriever of roosters who will tolerate the most irritating toddler, however, do you really want to test him and have that one time be the time your child is hurt? That's all I'm saying.
We've seen plenty of threads on BYC in recent weeks to scare folks into keeping a barrier between their roosters and their small kids, I think.