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Yes this did occur in Riverview. I have yet to play a family in Sunset Valley so I don't know about the school bus there. I have not seen a school bus in TS3 yet at all.
I think this may be an issue with Riverview, then, as when I started playing The Sims 3, I played Sunset Valley and had no problems with the school bus or sim-kids skipping school; it's only after starting a new game in Riverview that I have experienced the tardy sim-children issues.