If the kid is allergic to bees, s/he shouldn't be out in the woods without two Epi-Pens, Jr. or Standard, depending on what s/he Doctor Rxs for. Antihistamines are only going to do so much, i.e., very little, for a real bee allergy.
They should also be well-versed in how to use them. I taught my son how to use his on a lemon with one of his Epi-Pens when it went out of date.
The epinephrine in the Epi-Pen is a first-line measure. It keeps your throat from constricting and closing off the airway. Long-term treatment requires antihistamines to reduce the inflammation. Normal protocol for someone with a bee-sting allergy is to use the epi-pen, then call an ambulance - the EMTs will administer an antihistamine and possibly steroids. If you're in the backcountry, you better have some Benadryl handy after you use your epi-pen, or you're going to be back in trouble in about 20 or 30 minutes.
I got my info from the SOLO wilderness first aid course. Obviously, you have some direct experience with your son - if you have better information, I'd be interested in hearing it. I'm not a doctor, and it would seem like anyone who has a serious allergy (to bees or otherwise) and expects to be away from fast emergency response should discuss post epi-pen measures with his or her doctor.
Also, there's an epi-pen trainer for the auto pens. It works like the standard autoinjector, without the needle. It's a good training tool, and you can use it many times for repeated practice.
Some links:
Discussion of what type of drugs are administered by EMTs -
http://firstaid.webmd.com/bee_and_wasp_stings_treatment_firstaid.htm
Technical discussion of treatment, including specific drugs, indications, and effects:
http://www.emedicine.com/emerg/topic55.htm#section~treatment
Sorry for the thread-jacking. As far as the kit, I would start with 10 essentials in the BSA handbook. The Wilderness Survival merit badge pamphlet would also be a good resource - scouts interested in the psks will probably be interested in getting the merit badge later.
1 quart plastic bags make a good emergency water container - the kit could go in this if scouts are going to be careful, otherwise it could be double-bagged or folded up.
folding razor blade (available at county comm for cheap) might be a good blade alternative. I have some concern about the blade folding up, but it's very compact, inexpensive, and better than a bare razor blade. My first choice would be a locking blade, like the spyderco ladybug.
Small saw - I always use the standard wire saw, but there is a folding saw similar to the folding razor blade. If you want to buy in bulk for many kits, the manufacturer is the Derma-Safe company.
LED light - good for signaling, OK for route finding. Also available inexpensively at CountyComm.
+1 on the hot spark or similar sparker.
Possibly a few feet of surveyor's tape? It would run counter to standard "lost" protocol (stay put) to use this as a trail marker, but it could be used for signaling - tie at head-height on a tree or make a small flag to wave. If someone is looking for you, either would make you more visible, especially if you fall asleep during the night.
Small card with survival tips/positive mental attitude stuff.
Sounds like a great project, keep us updated on the results!