This article focuses on two-way immersion (TWI) education and restates two previously expressed cautionary notes about the unexpected costs of such programs for the Latino community and for children who are racialized speakers of nonmainstream varieties of English. Utilizing an analytical framework focused on the process of "curricularizing" language, it calls for increased attention to the numerous mechanisms that affect instructional arrangements in which the teaching and learning of additional languages is the goal. It examines the ways that current visions of TWI are: (a) aligned with contemporary theoretical perspectives on the teaching and learning of languages; and (b) sensitive to current concerns about equity and opportunity for vulnerable children whose backgrounds, experiences, and culturally informed expressive norms often profoundly differ from those of mainstream children.