I guess I worried too soon yesterday. Turns out they did very well, and the directors told them so even before the results were announced. I'll blame it on an early morning that did not start out well and still thinking of my 14 year old as a sensitive preschooler.
I can already see that it will continue to be hard to see my children face adversity as they grow older. When they're small, I can wipe the tears and counsel about friendships and give constructive help. As they get older, I can listen, and facilitate activities, and nag about responsibility. And I'm sure as they leave the nest we'll be torn by the need to support financially versus the character building of making it on your own. I can only hope that we find the right balance. I don't want my children to come back and live in the basement, but on the other hand, I want them to know they will always be loved and we'll catch them if they fall.
I don't think it gets easier as they get older, just different.