I think a cool feature for this mod to make it perfect would to add:
Instead of holding ctrl + (0 - 9) you could just hit control and it would go to the second wheel ctrl again for wheel three and ctrl again to go back to wheel one.
Go to the http://www.gamesas.com/index.php?/topic/1117114-relz-enhanced-hotkeys/ - This thread really should be locked now.
Look in the mod's .ini file. Setting tnoEH.stickyWheel to 1 will make the wheels "sticky", that is; the new wheel will stay after you click its key. Almost what you are asking for, no holding required, and clicking another set key would change the wheel to whatever other one you wanted.
You want it more like a single wheel cycler key yes? Click for next wheel. The only problem with that is if you have 5 wheels you would have to click 4 times to get from wheel 2 back to wheel 1!