Both are very unique and interesting resorts. I probably like the atmosphere better at the AKL, but prefer the location of the WL.
If you intend to spend much time at the MK, I would go for the WL. The boat is really convenient, and is a nice way to get around. Even though many people find the buses from the AKL to be efficient, we did not have a good experience with them.
I think for teenagers, the pool at the WL might be slightly better. The AKL pool has a zero entry section, which is great for young children, but it takes quite a lot of space to get to an area where even your knees are below water level. The WL has the waterfall for ambience and the hot tub is right next to the main pool. They both have slides, but honestly, I haven't gone down either one to say which is more fun.
The WL has the Electrical Water Pageant in the evenings on Bay Lake, and you can see the MK fireworks (slightly obstructed view) from many of the Woods view rooms.
The AKL has the animals (of course), night vision goggles with which to watch the animals, and the evening story telling by the fire pit.
As for restaurants, the food courts are similar, and restaurants are a little more traditional in the WL. Breakfast is good at Whispering Canyon, and I've heard it's good at Boma as well. I enjoyed dinner at both Artist Point and Boma.
Honestly, you can't go too wrong with either resort.