Teen Driver Mode is just a limited electronic tattle tail you can attach to a specific key fob or just turn on in general. If used in conjunction with Valet Mode you can see if the person who parked the car was having a bit of fun on the way to the parking spot.
You can also set a few other parameters with the mode turned on. Seat belts have to be clipped-in to turn on the radio, the overspeed warning is a MPH set by you, and you can limit the car to 85mph, which should keep your kid out of jail for being 20 over on the highway when they are pulled over for speeding.