Apparently I am not the first person to ask about this crater -- Jenny Blue as USGS had a letter in her files from Ewan Whitaker (who literally "wrote the book" about lunar nomenclature) that explains how it got named:
"The name was proposed shortly after the Soveit s/c Zond 3 relayed TV images of the Moon's western farside. The earliest announcement that I can find is in a reprint of a 1966 paper in the Sovient "Astronomical Journal" where the name is listed... an abbreviated bio. notes that the rocket story is "according to legend". The author is Yu.Lipskiy, but it is not known who first suggested the name...
"The name was also included in vol. 2 of the Soviet "Atlas of the Moon's Farside", 1966. Because of the subsequent improved coverage of the farside by Lunar Orbiter 5, the IAU took no action at the 1967 IAU General Assembly. Much correspondence over the next 3 years ensued... Wan Hoo was included in the final proposed list...and passed at the 1970 IAU Gen. Assembly, relying on the published Soviet data.
"There has never been a ban on including legendary names on the Moon. Thus we have Apollo, Daedalus, Icarus... the only thing different with Wan Hoo is that it is apparently a modern legend."
About the crater...
"The name was proposed shortly after the Soveit s/c Zond 3 relayed TV images of the Moon's western farside. The earliest announcement that I can find is in a reprint of a 1966 paper in the Sovient "Astronomical Journal" where the name is listed... an abbreviated bio. notes that the rocket story is "according to legend". The author is Yu.Lipskiy, but it is not known who first suggested the name...
"The name was also included in vol. 2 of the Soviet "Atlas of the Moon's Farside", 1966. Because of the subsequent improved coverage of the farside by Lunar Orbiter 5, the IAU took no action at the 1967 IAU General Assembly. Much correspondence over the next 3 years ensued... Wan Hoo was included in the final proposed list...and passed at the 1970 IAU Gen. Assembly, relying on the published Soviet data.
"There has never been a ban on including legendary names on the Moon. Thus we have Apollo, Daedalus, Icarus... the only thing different with Wan Hoo is that it is apparently a modern legend."