Hi bwallance,
Sorry for the delay in response from landesk on this. What you mentioned in your original post is perfect and correct.
Yes you would have to reschedule it every week so that it performs the WOL at the time permitted.
The difference between the schedule WOL option and the 'turn on' option in the power policy is how you would like the power management software to interact with the machine.
The power policy option, depending on your bios, will right to the BIOS wake on alarm option and schedule that machine to wake up at the time you specify. This may or may not work depending on your bios and how integrated windows can be with it.
The 'scheduled WOL' option will send a WOL packet from the core to the machine to wake it up at this specific time you have set.
Further to that in regards to documentation, here is a great article on how power management works .
Martin