Don't be concerned with getting the forum right he first time I me we don't mind moving posts when need be
So yes you will put little read re onto the laptop and download I access to the iPad so you can do lessons on the iPad.
From the iPad you will not be able to access little math or little musician (yet) they are only available on the computer version.
On the computer you can keep track of different children but I am pretty sure it isn't done automatically on I access. Perhaps someone else can clarify that. It really isn't too hard to keep track of where you are up too though and both kids will not be harmed by seeing the words more times so it is possible to work at the pace of the slower student. I always just played it for my youngest and the older ones watched the same lesson reguardless.
After a year you can Create you own lessons on the computer or use the lessons already made by other parents and form them into a new curriculum. This will not be available through I access though so you have a year to find a new laptop
great excuse!
The laptop and iPad count as one liscence. It is the number of computers that counts and if you have a Second iPad you can get iaacess for it and load LR onto it too. ( it is good for a couple of iPads from memory)
Little reader really is an excellent program and well worth the time. My son preferred it on the iPad to the laptop and was often watching lessons in his cars eat on the way to places.
Hope that covered all l your questions