Have to disagree in part with the OP's #5. Agree that Washington County doesn't really matter, in many ways you can remove this county from this pairing. In many ways its more similar to Dodge, Fond du Lac, and Sheboygan counties. Also Ozaukee County population wise is pretty small and really doesn't have big effect. All that said, Waukesha County's leftward swing has been massively important, on a level equal to what has happened in Dane County and Milwaukee County. Republicans just do not have that massive raw vote getter like they used to.
Waukesha is 70% of WOW. The acronym exists mostly because it sounds nice. MKE County suburbs are more important than Ozaukee/Washington and Racine is about as important as those two combined as well.