College admissions staff look at a student's grades, class rank, SATs AND the RIGOR of the school's curriculum. If they see "modified" or "alternative" curriculum on a HS transcript, most likely they will say "Next".
Frankly, I don't think too many parents (if any) would spend the kind of money it would take to set up an individualized program for their kid. This law is probably more of a statement than an action plan.
When my students whine and complain about the serious issues that concern them (like school lunches or dress code),

I tell them the following:
a. Talk to the principal
b. Take it to student council
c. Attend a school board meeting
d. Write a letter to the local paper
e. Start a petition
I'd be curious to know how many of those avenues were attempted before the proponents of this bill demanded a statute. Zero?