I don't know what the law is in your area concerning dog bites but I have heard of a three bites and your out sort of rule in some states. From what I can tell by skimming the information below your state has a
One Free Bite rule. Below is what I found for your state. I think a training would be a great idea, try to find one that can possibly work with you and your pup on ways to redirect his fear aggressions. If that is even possible. In the mean time, you may want to consider a mussel when he is around small children. Plus its going to take tons of hard work and hours to work with him to find out what makes him tick and triggers the bite instinct. Plus working with him so that he feels comfortable around children. It can be done . . and I wish you much success.
I hope your meeting with the dog warden goes well!
Virginia Dog Bite Law
The one bite rule:
Overview of the "One Bite Rule