I live in NJ, where Megan's Law originated. The parolee is required to register with the police department(our town's police had no knowledge of him) and the police captain told my neighbor that the county prosecutor was supposed to also contact the police in addition to any schools in the vicinity. According to this,
Klaaskids, that is not listed, but it's what we were told, so yes, Megan's Law failed us as no one bothered to find this out.
I'm not a vigilante, but I do believe, in instances such as these, it's better to err on the side of caution. Being lackadasical about something like this could be dangerous.