I would like to know peoples thoughts on performing a smash & stab type routine suitable for a family audience ?

No.
My reason is simple... This props and premise are easily duplicated by any kid that can hammer a nail into a board. I would rather see a guillotine used than this trick.

No, mentalism tricks are not suitable for kids watching. I use to do the beer bottle version but it did not have any impact for the kids. Best to do for adults only.

There is a routine of that genre that plays OK for a mixed group that includes kids. It is played for comedy and not danger. It is the "Egg-Roulette" or "Smash the egg and make a mess" routine. It is the same premise as all the others but the danger item is not a spike, nail, knife or corkscrew but rather a raw egg. The script is about the same (play it straight and it gets even more laughs). The methodology is the same as Scott Alexander's "Smashed". Break the final egg into a glass to show it real.

Otherwise leave it and potential lawsuits out of your family show. Michael has sed it best -it can be duplicated by "any kid that can hammer a nail into a board."

Consider the new (last year?) version with a shaken can of soda...

Fun for everyone!

Julie

Thanks for everyone's input it's much appreciated, I was originally thinking of having it with me for when I perform close up magic at weddings as something I could do if I was asked to do something for the whole room.

Funny you should mention that Julie as I purchased Fizz Roulette off Sean Heydon earlier this year

This sounds like an expanded routine based on Fizz Master (Paul Harris).

That's exactly what it is and Sean does credit him.

Cool. I wasn't implying otherwise. I use Fizz Master in the summertime for outdoor shows, and I actually like this "Russian Roulette" idea.
Just a tip in case it matters to anyone... if you do this outdoors (which I couldn't imagine anyone doing it indoors), if you use sugar-free drinks the residue won't draw ants. Depending on where you are, that has real benefits.

Sean does it indoors regularly but opens the can over a bin at the end to save the mess.

That seems to be a case where the concessions overtake the impact of the trick. Magicians are famous for diminishing great effects for such nonsense. White bread magic. Just my opinion. I'd rather leave out a trick than conform if it make me lose my "guts". Venue choice is important.