I don't think this is an aikido-specific thing. From my (non-aikido) teaching experience, kids generally don't care too much about the names or the actual technique most of the time (that comes later), they just want to do something. So don't put too much emphasis on the names of techniques, mentioning them once in passing is enough.
 When you do start teaching them the names when they know what they are doing and how to move, I'd break it down for them.
i.e. shomenuchi is this overhead strike. Ikkyo is when you put your hand on their arm (show them too!). 
I'd focus more on opportunities for them to roll, falling, and the associated throws involving rolls and falling.
Nothing is more fun and weird than telling their parents:
I learned how to fall today! I saw a person roll and I'm gonna do that next!