In Dungeons and Dragons Third Edition, this item is known as the Rod of Wonder. This is necessary because the magic item rules have changed, and the term "wand" has a more specific definition.

This destroys the alliteration and the fun acronym, but there are a couple of gameplay advantages. As an AD&D wand, the WoW was a limited-use item that (usually) only a wizard could use. A 3E rod, on the other hand, never runs out of charges and can be activated by anyone.