Interesting, thanks. I guess everybody thinks it's a crummy name.
So the name should evoke 'we' but instead evokes WWII, wikipedia, a typo, small, whee, and wee-wee. Also, people don't know how to pronounce it.
The solution, I suppose, is to include an explanatory tagline in all ads, especially print ads. "Together, Wii will change everything" explains the meaning and the pronounciation.
..I guess we already knew that. The question is, is it worth it to trade off a name which is not understandable without advertising (though lots of advertising will be there), in favor of a name that is short, easy to remember, and non-traditional?