>Don't older folks have a diff social reality?
>- home
>- work
>- family
>
>Doesn't all that stuff preclude cool?

no.

your premise is off and implies the mutual exclusivity of being old and cool(moderators, you should enable venn diagram drawing capabilities).

many of the folks who dictate/inspire 'coolness' are undoubtedly family men/women (i.e. actors, entertainers, athletes, marketing strategists). in fact, i would argue that their 'jobs' afford them the means to create and perpetuate 'coolness'.