Hi,
I have discovered that Cakewalk allows me to right click on any channel and select "Move AZ Controller here" to shift the starting channel the AZC is mapped to.
But I do not know what feedback event to look for in AZC to be able to adjust WAI accordingly in AZC.
EDIT:
Answering my own question. There is no need to do anything, WAI is automatically adjusted as I move the AZ controller to another track.
It did not work for me as I was using absolute track numbers instead of WAI-related track numbers in my fader logic code.