One of my twins was diagnosed with this and at first I was really concerned, but after talking to both her pedi and ENT they both said it is a condition that they will eventually outgrow. She had it pretty bad and had major stridor (the noisy, raspy, odd sound when they breathe), snoring, etc. from it. Our main issue was that if she got any germs it would immediately go to her throat and she'd get a little cold, even when her twin who does not have the condition would not get sick. We also got, and still get, croup pretty often. She is 2 1/2 now and has pretty much outgrown it but still has it just a bit. Again..doctors have assured me all kids outgrow it but that it takes some more time for some kids (she was a preemie).
I would just really try to keep hands clean and germ-free and avoid being around kids who have a cold as much as you can (easier said than done). Wipe down everything when you go out to eat, carry hand sanitizer, etc. to try to keep those germs at bay. It also helped my daughter to sleep with a cold-mist humidifier in her room to keep those airways as open as possible. That is really about all you can do, I think. Hang it there...it will get much better and from what I understand most kids outgrow it by age 1.