Look, Wscript is an optional part of the Windows, so nothing is supposed to crash if you disable it (fully or partially). I don't think the COM object is widely used by applications. When I browsed the web I noticed that it's only used by some VB Scripts (*.vbs) and particular server-side ASP applications (theoretically every programming language with COM interface can use it).
So... feel free to rename the key to anything else you'd want, and if (in the worst case) a program complain about a missing Wscript object, you'll always be able to rename it back. I see no danger in doing it, and at least when I did myself nothing went wrong.
I hope this answered your questions, and if anyone feels like correcting me, please do so. Good luck!