I was just there, and stayed in a villa about 3 or 4 doors down from it (closer to WOC) on the 6th floor. The view from my room would definitely be better than Paradise View Terrace. IMO Paradise View Terrace is going to have a more sideways view of WOC, than straight on. I was able to watch testing for WOC every night! I went down to the PVT and it was locked.
I asked the CM at the concierge desk about its use. He said it was still undecided how to reserve it. It might be a priority viewing experience, with a fee attached. He was unsure if it would only be available to
DVC members, or any GCH guest. Having seen where it is, and the view from my room and the obstruction in the way of the Zephyr, and sideways facing... I would not
pay for a WOC viewing experience. But I'd enjoy it for free if my room didn't have a Paradise Pier view!