I was never allowed coco pops or fruit loops as a kid - in fact, only recently (i'm 33) did I taste a dry cocopop - didn't like it either. I was allowed to have nutrigrain, rice bubbles or cornflakes though, all options I will not give to my children (i don't think!)
Doubt my kids will ever get fruit loops while in my house. DD2 is allergic to some food colourings...no thanks!