“THE PIRATES OF PENZANCE”: Gilbert and Sullivan’s wacky musical comedy “The Pirates of Penzance” comes to life in a new 50-minute version for kids. This updated rendition features modern dialogue and pop-rock musical arrangements. The first show is tomorrow at 10:30 a.m., and performances continue Saturdays through Dec. 18. Tickets are $15. Lucille Lortel Theatre, 121 Christopher St., between Hudson and Bleecker streets; (212) 245-0710.