FWIW....
I just got off the phone with Dining (4/17/12 9:00am PST) to try and reserve WOC for our trip in June. I was looking for June 17th. The CM I spoke with confirmed that Ariel's was no longer available and would be a princess dining experience at that time. She said "currently" the only dinner option was WCT, but that there would be another added called Carthay. She said right now they can't make a reservation at Carthay for WOC or even for regular dininng as it isn't even in their system yet, which she said to her was a little odd because it was opening soon. She didn't have a projected time frame of when booking would open up either. At first she recommended to call back in June and when I said "Oh...that far out?" She said, well you could try back in May as well.
When I asked if there was anything else I should do, like call back every few days she said to keep an eye on the Disney Blog as they had the most updated info.
If anyone else finds anything out let me know as I would have liked Ariel's since we have done that in the past and enjoyed the food. The WCT menu doesn't appeal to some of my family at all so that is why we are avoiding that. I would take a chance on Carthy without knowing the menu just because it is Carthy and will be so new/different/exciting.