I think the game is a tease.
Wanda doesn't initiate anything and she is the recipient of male/female attention.
Currently I'd say it's a possibility she will keep it in the family with potential activity with Faye, Gene and Lois but it could also be a desire she never acts on.
Her role as a principle tells her playing with her pupils is a no go and I think allowing Terrance to get her boobs out and fondle them is going to come back on her at some point.
Also Wanda's gym top has a zip on it, who thinks the zip will be coming down at some point ?.