I'm not familiar with a Teen Bible, but everyone should read at least parts of The Bible, lest they be cast into literary darkness and be divorced from many mainstream conceits.
My 8th Grade daughter reads just about anything she can get her hands on, which is good. I never trusted those hippie parents I knew back in Park Slope, Brooklyn who forbade their kids from watching TV, reading comic books, and so on. How can you subvert what you don't know or understand, esp in a mass media culture like ours?
DP