The idea that abstinence encouragement alone is going to cut down on teen pregnancies and/or disease transferal is crazy. But at the same time basic sex education alone isn't going to be anymore effective. Solving the problem with irresponsable teen sex practices are going to require a more comprehensive program involving parental support than just basic education.
Showing VD pictures or the proper way to roll on a condom isn't going to teach a teen male that the amount of "poon" he's getting doesn't make him a man, nor does it show barely teenage females that "putting out" shouldn't be a requirement for a relationship at the age of 13.
The money being spent needs to be halted and the until the program gets overhauled.