I would seriously doubt that rocket exhaust is conductive, so the likelyhood of lightning hitting a rocket and coming down the exhaust trail is nearly nil. However, you should not be standing around in a field where you are the tallest thing around if there is lightning activity nearby.
You would be OK to launch if one of the scouts is freakishly tall and you are rather short. Just kidding - stay inside during storms.
By the way, it is rather complicated, but lightning doesn't just come down from the clouds; it also goes up from the ground. You shouldn't be outside messing with steel launch rods and launch controller wiring during electrical storms.
Well... yes and no...
As a farmer I've worked a LOT out in the fields with approaching thunderstorms and nearly got struck by lightning twice within two weeks a few years back, and got a good "sympathetic shock" (induced by nearby lightning strikes) to prove my stupidity for doing so.
I tend to think that a higher density of particulate matter dissolved in a gas (the exhaust trail of the rocket), while technically non-conductive, would allow easier passage of lightning to the ground than the surrounding "clean" atmosphere would, therefore allowing a 'path of least resistance' to the ground which a lightning bolt would be likely to follow in the event of an imminent discharge in the area. At the voltages lightning typically achieves, NOTHING is truly "non-conductive" as the lightning can EASILY overpower it's dielectric strength, and hot recently expelled reactive particles would allow current to jump from particle to particle down the exhaust trail a lot easier than the "clean" air surrounding the launch site would, but then again, there is a certain element of chance to it all.
I know one time I was in the field disking and raising a HUGE cloud of dust, which was being drawn STRAIGHT UPWARD into the inflow convection of an approaching building thunderstorm, and even though it wasn't raining I went ahead and quit when I started seeing lightning on the horizon because I figured that the particulate dust, possibly electrostatically charged from rubbing on the disk blades and the particles rubbing together, made a perfect "virtual ground wire" back to the large iron/steel tractor and disk I was operating, and would likely attract lightning. Had the dust been blowing across the field near ground level by storm outflow I wouldn't have worried about it much, but STRAIGHT UP was just asking for it IMHO.
I saw the same program about the lightning-attracting rockets unspooling fine wire (like TOW missiles) to lead lightning strikes back to the test articles on the ground. IIRC, that's the national lightning lab in Florida, where they test a lot of electrical utility equipment against lightning strikes, because it's one of the most heavily lightning-hit areas of the world. They use some sort of electrostatic potential meters to tell them when a lightning strike is building and launch a rocket shortly before they figure a strike is to occur-- a lot of the time the wire leads a lightning strike right back down to their test articles, but sometimes they miss or the lightning dissipates or strikes elsewhere or strikes before the rocket is launched, or something like that. It was a fascinating program... can't recall offhand where I saw it; PBS maybe??
Messing with steel launch rods and stuff with lightning nearby is probably NOT a good idea, because 1) lightning is attracted to conductive metallic objects and 2) lightning is more easily attracted to sharper conductive metallic objects like launch rods than rounded ones. Even lightning strikes nearby can induce a current in metallic objects and give you a firm shock-- I experienced that myself twice in a half-month. I was working on a cotton picker, with my arms through the framework, extracting a PTO drive gearbox from the side of the transmission, when lightning struck just up the road. The magnetic field or residual electrostatic charge in the atmosphere induced a strong jolt in the metallic frame and basket of the cotton picker and zapped the heck out of me! A week or two later I was tarping down a load of recently dumped cotton in a trailer during a pouring rainstorm after pulling out of the field, getting ready to head to the cotton gin. I had climbed in the trailer and spread the tarp and shoved it down the sides between the cotton and 2x4 wire sides, and climbed out, and noticed the storm winds had torn one corner loose, so I ran to the back and reached through the wire sides to grab the tarp and pull it down, when a lightning strike up the road energized the steel trailer and it's 20 foot long 9 foot high sides, zapping me through the wire.
I've also heard lots of stories of cattle, horses, and other livestock being killed from lightning striking the fence a mile or more away, and the current jumping to them at the other end of the fence. Not good!
Can't be too careful about that sort of thing...
I'd say go ahead and launch, but if there's anything coming up 'in the area' just call it a day and head home... especially when you're talking about a group of kids... not worth the risk...
Later! OL JR