Individual readings are entered in the MeterReading table and that can be seen in the GUI from the Asset screen looking at the Meter History. WOMeter is when it is due, not what the actual readings were; it is for the specific instance of the PM (that work order).
For regulatory reasons we have auditing enabled on all Asset, PM and Job Plan tables and have written reports to view those. If you are concerned about something changing when a PM comes out and it is important to you it is best to have the history.
Maximo also uses the AssetMeter.Average (the average per day for a meter) when you generate X days ahead. As a general rule, we do not check "Generate Work Order Based on Meter Readings (Do Not Estimate) " and have it hidden on the PM screen unless it is already checked (a tiny handful of our assets use this).