Track when an iPod Touch was restored I suspect that someone is restoring my daughters iPod Touch to get around the password she has on it, and then setting a new password on it.  Is there anyway to track when a restore was done?  (i.e. if I can show that it was done today at 2:45).

Is there anyway I can prevent the device from being restored (parental controls)?
To answer the last question first, no. You can always force a device to be off and then force an erase/restore. You should be able to tell since everything is gone. Worst case someone has an old backup of her content and restored that. 

It is far more likely the culprit has guessed the passcode and is messing with you all. Second most likely is a jailbreak and known admin password. 

If the suspect is technically sophisticated, it's possible they can pull this off but the security of passcodes on iOS is quite secure in general.