Shit.
http://www.thedenverchannel.com/video/18205848/index.html
I was sure it was a joke or hoax. I hope this kid is ok and this is a publicity stunt by his whackjob parents.
Looks like someone snapped a pic at 11:20am local time as it was taking off. There is no separate box, the cylindrical 'stalk' under the disc is the compartment, which was cylindrical and made of plywood. It got crushed somewhere along the route. It cleared 15,000 feet. Double shit.
HE'S ALIVE! HE'S IN THE HOUSE!
Aaand I'm blubbing like a six year old.