First off, I liked the book. It was really cute and reminded me of Alice in wonderland(which is a much better alternative). But I found that most kids in my class were really bored by it, not be user the plot was bad, but because they were *not* smart. (I mean, had NO idea of the puns, when it's meant for an eight year old.) I would say you could read it, but Alice's adventures in wonderland is much better as a read aloud for an eight year old than this.
However, there is some educational value, telling about numbers and such, but not enough to call it an educational book.