Hi Kris,
I have not stayed at AKL, but have stayed at WL.
We stayed in a courtyard view room last Sept., we were on the 5th floor, (north side of the south wing) and I was able to partially see the fireworks every night from our balcony. From what I've read, you can see a very nice fireworks show from your balcony if you are in a higher up (woods view) room on the north side of the north wing as well. Is that confusing? Also, the electrical water pageant comes by the lodge every night and that's fun to watch too. We watched it from our balcony, but you can also head down to the beach to watch it too.
We also traveled with two children, though younger than yours. We found transportation to be great from the WL, and never had a problem while there. Transportation to and from the MK was especially great. Piece of cake actually! We also enjoyed that we could take a boat to the CR, then hop the monorail to any of the other monorail resorts for dinner reservations. The pool at the WL is great (we were mostly in the baby pool

), and I'd be willing to bet that your boys would LOVE the slide! DH and I took one turn each on it and were surprised at how fast it was!

We really enjoyed just staying at the resort a couple of days and enjoying the pool and grounds - very pretty.
So there's a little info for you about the WL. Maybe someone else can give you some insight into AKL.
Whatever you choose, I hope you have a great trip!