With a stream that is being "pushed from Wirecast, Wowza will just wait indefinitely for the stream to continue.
The StreamTimeout/reconnect behavior you are referring to is with streams that are “pulled”, i.e., MediaCaster streams, e.g., an rtsp stream from an IP camera or a shoutcast stream.
You can use this StreamWatchdog example to see if the stream is active, by checking packets:
http://community.wowza.com/t/-/243
Richard