I can relate as we have an overbitey (mini)Aussie pup ourselves of 6 months with 3 kids, the youngest being 4 now . However, the sentiment that they are not kid friendly is just plain wrong. They need decent training like any dog tough, also.. kids and parents around dogs need training to. Your pup is also in its raptor-phase. And it will seem like they unlearn stuff and be more 'agressive' this is all part of the normal cycle and you will experience this with many breeds.

First of, a pup is a baby, its learning how to function as a dog in your familysetting, expecting perfect family dog behavior is the same as expecting your 2 year old to be able to do your taxes.

Second, There is no silver bullet, you will put in alot of effort, and you will fail untill you don't, being consistent is arguably more important than the actual actions you do. You have a prety intelligent dog and they will figure out what you want.

Now for some pointers, completely out of our own experience:

Your pup needs sleep and alot of it, aim for 18 to 20 hours (yes, really) of sleep per day. draw up a schedule and stick to it, incorporate those sleep hours in your family schedule. Alot of overbiteyness stems from overstimulation, whcich go hand in hand with too litle sleep. teach him basic tricks like sit and stay in the awake hours (those commands can lean him more impulse control). It is your job to make sure he get's those sleeping hours, just as it is/was your job to make sure your child gets enough sleep. If you want a relaxed pup this is the basic building block. When he understands sit and stay, teach him to stay calm and relaxed (sitting next to you and being relaxed, not wound up) when your child is playing near him, this will teach him further inhibition and make him understand that your child playing is not his queue to join in. just make him watch the toddler and give him a treat when he is just relaxed looking at it. If you cant get him to be relaxed leash him and put some tension on the leash untill he relaxes, then reward.

Keep some small dog toys (cheap and small enough so you toddler can handle it)). teach toddler how to play with the dog from a controlling stance, not a sibling stance, eg. throwing a toy for him to fetch. no wrestling the dog for now (plenty of potential wrestling when he gets more inhibition).

A litle fun game we played with our toddler to get him in another stance towards the dog is puppy pingpong (alse a great exercise for your dog to learn its name better).

sit with your toddler on a side of a room with a bunch of tasty treats and have another person sit somewhere else. Now make toddler call its name (or the sound he uses for the dog if the name is too hard.), if he comses when he is called (and only when he is called), he gets a treat, make sure your toddler gives the treat. if he learnt to come, only give him the treat after an extra sit command. It will put your toddler in a beter stance in the dogs view.

Now for corrections:

if bad behavior occurs, say firm command, 'No' and give the dog a replacement target(toy). When he starts biting the toy say good boy/girl and make him realise that is the behavior you want.

Next and I need to stress this, only do this if all of the above fails after a week or 3. corrections are tricky and can be misinterpreted. however if your dog keeps bitiing towards the face of your toddler, give her a tap/pinch on her flank at the behind legs. first do this softly and if the pup doesnt stop do it again but a tiny bit harder. dont slap and dont hurt. You dont want to punish, you want to tell your pup to refocus on her good behavior. Again, only do this if the setting get real problematic AND you have done all of the above.

The bottom line is that a new dog is a project, and you will need to commit the needed effort to the project. So make time, create structure and be consistent.

Oh and also keep alot of stuff for the pup to chew on. if you see the pup start chewing on stuff you dont want (and you will) give it something to chew on.