Cell phones are here to stay (barring a nuclear war chas v’sholom). For the younger generation, they have become the primary means of social communication. Taking away someone’s phone is like putting them in social excommunication. The primary reason a Metzorah (Leviticus 13) who is banished from all 3 “camps” (Leviticus 13:46) is considered like a dead person (see Numbers 12:12) is because of the social isolation.
As with the power of speech, there are many pitfalls with the cell phone. We much educate our children both on the proper use of speech and proper use of cell phones.
There are also the financial pitfalls associated with cell phones discussed much earlier in this thread, that our children must be made aware of.