This happens all too often where 2 families are broken because of an affair. The odds are not good for their own future relationship since the likelyhood of one of them cheating again his higher.
I am not sure what you or the other betrayed wife are going to get out of talking. It seems that it might just open old wounds. Is obtaining any new and possible painful information meaningful to you now?
This is a very delicate situation to discuss with your kids. I hope you just gave them a heads up that they may be meeting another man who is with you X in the near future. It is important to not be a hypocrite and forbid your X from introducing the kids to him as the day may come when you want to introduce the kids to your next sweetheart.
I wish you well Tostada and hope you can recover from this ordeal in a short amount of time. Were you able to find a new job?