I have what I think is a 98 or 99 "Special Edition" with the WC-1. I have posted a few questions for Quenton under "Questions for Quenton" thread.
From what I glean, the WC-1 is best left alone unless you're willing to do the extensive modifications and possibly more than what is described by Fossil.
I have been lucky, I guess, that my Whizzer has been flawless. Except for a nearly dry coaster brake, the bike has been well worth what I put into it.
I have a gut feeling that if I start modifying the thing it will turn into an expensive nightmare. (Check out Lennyharp's saga of disappointment with his brand new NE-5 in this Whizzer category. ) I'm leaving well enough alone until something breaks. My advice is to enjoy the bike as it is until it fails, THEN build it into a wheelie poppin', ground pounding, fire breathing monster.