Most of the activities center around the Community Hall/Pool area - not the Live Oak Lodge. The resort is relatively compact and nothing is far from any location, so I wouldn't worry too much about where your villa is located. The entire resort is about 400 yards from end-to-end.
You will want personal transportation to visit the other areas of the island for dining, shopping and the wide variety of other activities available. Right at the resort there are Dolphin cruises and fishing charters available and other cruises are available from the nearby marina- along with several dining options and shopping at the Shelter Cove merchant area (these are all within an easy walk). The Beach House is just over a mile away and shuttle transport is available from the resort- although many resort guests drive and park themselves.
You'll definitely want to visit Harbour Town and the South Beach area of the island- these are noth within the Sea Pines Planatation. There are several outlet malls just off the island (you'll pass them on your way to the resort).
I wouldn't worry at all about your room location - just go and enjoy the resort. Activities include all sorts of water related activities, canoeing, kayaking, parasailing, fishing, crabbing, horseback riding, shelling, bird watching, Dolphin cruises, trips to nearby Dafuskie Island and Pinckney Island as well as golfing, tennis, swimming (pools are heated year round and the ocean is delightful throughout the summer months) and walks on the beach are wonderful. The area has miles of paved bike trails and the resort has bikes available for rent.
Have a great stay!