I would say no.

There aren't any particular rules about contractions and intermediate capitalization so we are free to choose. WAsm is more awkward than Wasm so the latter seems better.

I'm not sure. But I think we could use a new bike shed? I think it should be orange.

I would maybe argue that used to be acronyms but now are just... well, words.

It’s one thing to take an acronym and “demote” it to a common noun if it’s being used often by wide public (not unlike how proper nouns become common nouns), it’s another thing to randomly pretend that a regular noun is an acronym. I’m looking at you, photographers shouting “RAW” in all caps whenever the topic comes up. “WASM” rubs me wrong for the same reason.

I admit to being guilty of this and mimicking whatever form I encounter first, but then I’d switch once I look it up. I don’t quite understand why would anyone do otherwise.