Some things to consider -
Rerolling is an Elf Racial power, so you are lessening the uniquness of that.
I believe some Paragon Paths give you an action point power that does exactly that, so you are potentially talking about giving 1st level characters an abilitiy that they would not otherwise qualify for until 11th level (for the paragon path).
The net effect means combats will be a round or two shorter (since you're more likley to hit with your encounter/daily powers , meaning more damage and therefore faster kills - as opposed to missing with that encounter/daily which means a couple more rounds to hit away with at-wills or lesser attacks)
Having said all that, it isn't really the end of the world. So if you all are fine with it so far, sure, why not go for it.