It was also discussed as a problem in that the WoC hardware needs a controlled/closed water system.
While World Showcase Lagoon was constructed, it's essentially an open lake now, and unsuitable for the WoC infrastructure.
To put WoC in the lagoon would require a complete draining, lining the entire lake with concrete and adding a water filtration system. It would also most likely mean the end of Friendships inside the park and moving the Friendship marina elsewhere, as they'd have to cut off the lagoon from the rest of the Crescent Lake waterways.
I think the only in-park body of water that fits the construction requirements would be Echo Lake at the Studios, but it's obviously WAY too tiny for WoC.
As Steve mentioned above, I could see some elements of the WoC fountains making their way onto the RoE barges, but not a complete replacement/installation.
-Rob