To me, two huge components of Wildcat are:
a) having a running threat in shotgun behind an unbalanced line
b) normal QB split out wide
Tebow, although he is a QB, could run this style of offense.
Brian has a good point though. You could actually put Tebow in at QB and still split him out wide, not take the snap. He's a good enough athlete that you would actually have to respect that player going up field. You could also then put him in motion and get him the ball and he becomes a throwing or running threat.
There's lots of different ways to use Tebow, I don't disagree with that, I just don't think it's effective enough to make an offense out of it or to bring in a guy with the skills that Tebow has to justify trading for him. If it were more effective or you just happened to have Tebow on your team and were looking for ways to utilize him, that makes some sense.