First fight think nothing of it.
Second fight, as a ref, i would have told both sides to stop
Third fight, stop the game and tell the kids to go home.
There is no reason to allow kids to fight...period. In my opinion what i saw was very disgraceful and actually brings down the game of hockey.
It's not like they were taking their buckets off and dropping the mitts. Or worse yet ripping each others helmets off.
There was some obvious animosity between the two teams, most of which probably existed beforehand, and they had finally had enough of each other. From the looks of it no one was hurt, and ill give them all credit for being men and fighting than slashing and cross checking each other which would have been far worse.