As far as I know, there isn't any link between Waldorf and CM, even though many of their ideas are similar. I think that they are both reactions to the industrial age. At a time when the educational bent was producing little machine people to run the new machines, they both wanted to educate the whole child. I think that they are both more concerned with process than with product.
I find CM ideas much more homeschooling-friendly, as she was primarly intersted in homeschooling. Her ideas were translated to a school environment so that more children could benefit from them. Stiener was interested in creating great schools, not in home based learning.
CM did not recommend narration with kids under 6, so I wouldn't do it with the 5 year old.
Here is a link just on narration.http://www.angelfire.com/wa/beeme1/page2.html
Elijah Co sells a book called Listen My Children that I think would help in getting started with narration. Here is a link http://www.elijahco.com/store/search.cgi
Is your 11 year old doing any copy work?