Arguably, it's wacky that you apply the same script to both the parent and child objects, and toggle a boolean to tell it which one's which. That's two Update functions being called where one would be sufficient.
I'd do it by putting the script on the parent only, and giving it a reference to the child object (which can be initialised by drag and drop in the inspector). That way, one Update function call affect both objects at once.
I'm pretty sure it's possible to do this without needing the parent/child relationship, too. That is, you can set the rotation to be as you want it with just a single object. I can't think of how to do this off the top of my head, though... maybe I'll try it out sometime. --NCarter 08:43, 26 May 2006 (GMT)