I don't think Weather Channel was threatened by Wunderground's market share. A more plausible explanation I've heard is to reduce competition for advertisers in the weather space.
The "market" is the advertisers, so definitely a threat. One reason Facebook seems different is that it's more naturally social, but the truism remains: if you're not paying, you're not the customer. That WU pinned an ad-free account at $10/YEAR tells me TWC was likely not happy with them as competitors.
There are number of different ways to access the NWS data and graphs - not surprisingly it is hard to discover them! They do have an XML web service for daily and hourly forecasts http://graphical.weather.gov/xml/ but you can also download binary files that contain all the same weather elements for the US.
I'm actually close to completing a python library that will be open source and provide an easy way to access the NWS national digital forecast database.