Ahh I see what you mean. Personally, I don't think so still. The way music is listened to now, I don't see something having a big impact the way Children did. That song was everywhere. It was probably the biggest Trance track to go so mainstream.
Trance, as a whole, is not as popular as so many of your fly by night EDM listeners have moved on to electro, dub step, and pop-trance-electro house. (My own genera I just made up.... you will know exactly what this is haha
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There have been songs after Children that made the trance world feel very similar. Mike Foyle's "Love Theme Dusk" springs to mind as that track really captivated many and still does when played today. However, due to the industry changing so much, it never made it mainstream enough to hit so many in the gut.
Children was when Trance was new and not really head of. It was still very underground when Children hit but now people just push it to the side and think "cheesy old Trance".
Maybe one day, when Trance has become more pure and starts to go underground again, it will emerge with another massive tune that will reach many. Most likey then, the circle will start all over again.