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Unfortunately, the Timekpr development stopped a while back and the application doesn't work with the latest Ubuntu 14.04. However, thanks to Eduards Bezverhijs, you can use Timekpr in Ubuntu 14.04. Update: the PPA now supports Ubuntu 14.10 and 15.04 too.

Eduards fixed all the bugs that kept the application from working in Ubuntu 14.04 and also, he added an Ubuntu AppIndicator since the old Timekpr was using a tray icon, which can't be used under Unity.

Note that the Timekpr indicator doesn't show up for administrators - it is displayed under accounts for which you've limited the login time or access hours using Timekpr and it shows the remaining time (along with a notification which is displayed on login):

Unlike the old GNOME Nanny (which is unmaintained), Timekpr doesn't allow you to control which websites your kids can and can't access (you can use the hosts file or OpenDNS for that) and there are no options to choose which applications they are allowed to use either. But, even with a limited set of features, Timekpr is still a great tool if you want to make sure your kids don't spend all their time in front of the computer, and you don't want to mess with various configuration files.

sudo add-apt-repository ppa:mjasnik/ppa
sudo apt-get update
sudo apt-get install timekpr

If you don't want to add the PPA, grab the Timekpr deb from HERE.