While it's an interesting idea, it's a complicated one...which means there is a lot that can go wrong.

I mean, first it requires that you set it up so it works reliably, works during the worst of conditions, and has a signal strong enough to reach multiple homes. From there it requires every house to have the required devices and the knowledge how to use them. This can be especially tough if they don't have a way to keep them powered or run into a problem where their device fails in some way (say, if it gets wet during a flood).

Depending on the information you are trying to disseminate, it might end up being and easier and more reliable system just to stick to printed leaflets. Especially since a neighborhood setting means people are living relatively close to each other.

What I would do is start out by giving everyone in your neighborhood a nice bound notebook with the majority of pertinent emergency preparedness information. Then just supplement it as necessary with hand delivered fliers. It's a much simpler system and it doesn't required complicated equipment to use it. If necessary, it doesn't really require any technology beyond a piece of paper, a pen, and a messenger boy to make it work.

(On a side note, for the initial binder at least, I would make sure to either use rite-in-rain style paper and a laser printer or have the pages laminated. This way, they'll be durable and water-proof...which is something a computer typically isn't.)