Yeah - we've been there - hope the wife likes wind, because it doesn't stop .. well it only stopped for one day when we were there in August. Plenty of kiters and windsurfers up there, and plenty of room for all.
There's a Cocos wind graph at the bottom of
/graphs/wa2.asp
If you're in WA, you can organise a trip with
www.2ndwind.com.au or
http://www.pelicanwindsurfing.com.au (who do kite tours)
Heaps of flat water and one surfing spot (offshore for kiting though) .. the place "feels" like a laid back Aussie country town .. & no passport needed. Heaps of accomodation from real comfy to real basic.
Not much to do except get on the briney in the lagoon, diving, and boat tours (and drinking duty-free grog), so for us it was a great destination to wind down...
Enjoy .. Lozzza