Did you recognize the song performed Feb. 7 at the the opening ceremonies of the Olympics, "When Children Rule The World"? It's from the new Andrew Lloyd Webber-Jim Steinman musical, Whistle Down the Wind.

The newly revamped Whistle Down The Wind opens July 1 on London's West End -- much changed from the version that played Washington, D.C. in late-1996.

"When Children Rule the World" is very much in the spirit of the Olympics, with such lyrics as "Towers of fire/ Rise even higher/Magical flags will be unfurled/The power of song/The young will be strong/The night that children rule the world/When children rule the world/Tonight/When children rule the world."

This song, performed by the Red Hill Children, was released as a single CD in 1996 -- with proceeds benefiting the BBC Children In Need Appeal charity.

Lyricist Jim Steinman has been quite busy of late -- he recently scored Roman Polanski's Tanze der Vampire - Dance of the Vampires, which opened in Vienna last year to rave reviews and is due to arrive in NY in late-1998. Lloyd Webber, too, has been busy -- but in a different sort of way. The financially strapped composer, who took a loss on Sunset Blvd., recently sold his London mansion in Eaton Square for $20.4 million.

-- By Rebecca Paller