What a treat to see such a futuristic agitator and agitation motion in so ancient a machine. A great find. Reminiscent of both the Philco and the Kelvinator, but mostly, as the posts all suggest, the Almighty Calypso.
Another Aworg first. How exciting.
Your experimentation with the water level will be fun and informative, but based on the standard water levels of most vintage wringers, best guess is that the viable level for a full load is above the Wobbulator.