Isn't the 1980's child-appeasing confectionary called "Waggon Wheel" rather than "Wagon Wheel"?
It appears, like much in the world at the moment, that the confusion is the fault of our American friends. Fatties. "Waggon" is simply the old British spelling of the word, "Wagon" has been used since the yanks thought that it was too difficult to spell and simplified it.
Ironically, that's why you see it more on pub names, as they're trying to emphasise their historical status because American tourists (fat ones) think that old traditional pubs which have been running for hundreds of years aren't going to sell them shit beer and sandwiches with fag-ash on them.