The idea that the beveled-edge disc idea was "stolen" has been around for years. Tim Selinski worked at Wham-O and was one of the original Innova guys, so that is where the rumor about Wham-O came from. There are other rumors that Jan Sobel at Destiny Discs had a prototype, and the idea was stolen from him. If you are the kind of guy who wants to believe that sort of thing, there are plenty of rumors for you to believe.
To say that "they (Wham-O) got pissed and left the sport" is a terrible misrepresentation of what happened. What is fact is that Kranso bought out Wham-O in '83, and Kransco put an end to the Frisbee money train. The Frisbee was Wham-O's bread and butter, and it got a Lion's share of their marketing dollars. Kranso made a ton of money selling Power Wheels, and didn't see the Frisbee much differently than they did Super Balls or Hula Hoops. The International Frisbee Association (IFA) had been sponsoring events and funneling money into Frisbee sports since the mid 60's. The IFA was part of Wham-O marketing. Kransco shut the IFA down pretty much overnight when they took over at Wham-O. I'm not sure how a company being pissed about loosing out on the golf disc patent would account for ALL Frisbee sports loosing their funding.
You would have to be pretty naive to believe that there would have been any Kransco money available for disc golf even if they did hold the beveled-edge disc patent. The way I see it, if Wham-O HAD patented the beveled-edge golf disc in '82, there is a strong possibility that Kranso would have shut the product line down a year later and we would have had to wait until 2002 to get ANY golf discs. So if somebody did steal the idea from Wham-O, we should give them a medal.