Popular superhero comics have almost always been based around teenagers. Original X-Men were teenagers. And teams like X-Men have had many teenagers on them. FF always had teen-like angst, with the jokes and stuff between Johnny and Ben, and with Johnny being so immature. Spider-Man was the teen with the jokes, swinging through the city, one step ahead of the authoritative figure of J. Jonah Jamison.
Comics about teens hit with a wide variety of audiences. Teens can relate, but so can adults as we have all been teens (and most of us, mentally, still feel like we ARE teens). Children can relate, as they are approaching (and looking up to) teenagers.
This, to me, is a perfect setting; a school. It is silly, it is humorous. But, take away the super-powers, and it is a lot like real life. And that is what makes it work.
As far as Wolvie the Headmaster not fitting with other people's versions of himself, I think this Wolverine was more taken from the popular and successful Wolverine and the X-Men animated series. In many ways, its a more adult (mature) and more reflective Wolverine, recognizing that he has to hand something down to the youth of the world, something more than just a body count. I like this version of Logan, and wish it were the ONLY one being used.
To me, this is the Wolverine who would show up at Alpha Flight's funerals, rather than the Wolverine who forgot he even knew or cared about them until far afterward.