I also think that it's worth seeing WoC at least once, but only if you're willing to put in the time to get a decent/good view of the show. My general feeling is that it's better to see something for the first time from the best possible vantage point. That way, you'll know if you like it or not, based on the whole show and not whatever part you could see.
That being said, I'm one of those people that feel that if you can't see the water surface, you're missing out on part of the show. I am fairly short, so it doesn't take may people to block my view of the water surface. The first time I saw WoC, I was in the back half of the upper blue viewing area. I could see most the mist screens and all of the water cannon effects up in the air, but I could not see the water surface (maybe some intermittent moments, but not enough to say that I saw that part of the show). I thought WoC was okay, but it didn't "wow" me. I honestly thought it was kind of like a knock-off version of Fantasmic; lots of mist screens with water cannons that they mostly just shot into the sky. I saw it again (several years later) and that time, I was able to see the water surface. The show was markedly better because I could actually see the "whole" show (not necessarily see everything, but I finally could see both the aerial effects along with the "dancing" colored lights/water).
I think of it this way, if you're short and in the back half of the viewing area, it would be like seeing only the floats in the parade, but not being able to see the dancers on the street. You can still see the parade and it's possible to really like it, but you won't be getting the full effect. Given that, I do think that if you're short (e.g., under 5 feet), you need to be in the front half of the viewing area to really get the full effect of the show; otherwise, you run the risk of seeing only a portion of the show. There are great viewing spots in all of the viewing areas, but there are also viewing spots that would be fine for taller folks that won't work from shorter individuals.