At least as far back as 4.13.1, manually setting wrap-workspaces=true no longer enables wrapping. Modifying pager.c such that the internal variable always defaults to true doesn't help. I suspected something else entirely was involved because sabotaging pager_plugin_scroll_event() with "for(;;);" has no effect either, and even setting workspace-scrolling to false does nothing-- it scrolls anyway. My guess was confirmed when I just read Bug #15154 and its resolution.

I worked around this long ago by using the wheel on the desktop instead, where wrapping still works. I set the panel width to 99% so there is always a spot of background down in the corner of the screen, which is also absurdly easy to land on with the mouse. This partly accounts for why I didn't report it sooner, and I apologize for that.

Steps to reproduce:
- add "Workspace Switcher" to panel
- in Settings Editor, navigate to xfce4-panel/plugins/plugin-NN (whichever is named 'pager')
- add a new Boolean value named wrap-workspaces and set to TRUE
- open pager Properties
- make sure "Switch workspaces using the mouse wheel" is NOT checked

Expected results:
- scrolling with mouse wheel over pager does nothing
- after re-enabling "Switch workspaces using the mouse wheel", scrolling on pager loops through all workspaces repeatedly

Actual results:
- scrolling on pager changes to previous (or next) workspace until the first (or last) one is reached, and stops

4.13.1 was built in Funtoo (1.2?) a year ago, and 4.14.1 is now built in Gentoo, both using unstable/testing package versions (~amd64). (NB: 4.12.0 is the one xfce4-panel package which Gentoo currently considers stable.) Devuan 2.0.0 is still using XFCE 4.12 as a whole and xfce4-panel-4.12.1 still works as expected.