I believe what WPEX needs more than anything right now is a marketing campaign. I'm no marketing pro, but I do have a few ideas I'd like to share.
1) Deposit bonuses: give people a reason to move money there. Offer an ongoing 20% first-time deposit bonus, $100 max, 7x playthrough, which gives you the other 25% rakeback WPEX currently keeps.
Reload bonuses: offer $100 reload bonuses on a regular basis, maybe every 2 or 3 months.
I believe deposit bonuses are one of the strongest marketing tools available for poker sites.
2) The Theme. Make WPEX the focus of the ad campaign, not WSEX. Possible slogan: 'Free Money, More Choice at World Poker Exchange'
Along these lines, I appreciated the free t-shirt last year, but the advertising value you got for it was minimal because I never wore it until I blacked out the big WSEX.com on the front. You see I was too embarrassed to wear it out because WSEX.com sounds like a porno site. Call me a wuss or whatever, but that's the way it is.
I'd suggest you try (again, probably?) to buy the domain
www.wpex.com, if you are committed to make the site big in the long run.
3) FPP points, make these worth some reasonable value. Model this on Stars program, including the VIP portion. Giving people levels to shoot for is an important mental trick to encourage heavy play. Making the points worth something will also reward those loyal players who have been with you long term.