The iCal is run by Martin who enters the meetings manually. The WAGs website in an integrated web application that shows all meetings, blogs and administration tasks but is completely separate to the iCal.
You can set a calendar to refresh itself automatically by highlighting it then getting information [⌘ +i] and selecting an option at the bottom of the page that drops down. You could be all present and correct every 5 minutes if you wanted!
Mark - that's how I have mine and it works beautifully most of the time. Not all the time but most of it. I still find a manual refresh from time to time helps.