Eric, two answers.
The short answer: run

and after that you can see the algebraic variables and system equations.
The slightly longer answer: When you run a simulation with WSMLink (WSMSimulate["model"]
) the model is translated by SystemModeler into the binary and that's what you run, the simulation results are then read back into Mathematica. You will always get the same results as running a simulation in SystemModeler Simulation Center. When you run WSMModelData["model"]
WSMLink will convert the Modelica equations into Wolfram Language.

There are some constructs in Modelica that there are no representations for in the Wolfram Language, so it will not always be possible to fully translate everything.