Cutting material from WOT would alter the vision of its writer, to begin with, and remove what makes the series unique. For good or ill, WOT is the work of RJ. He wrote the series as a series of motifs repeating in variations forming a giant pattern. Remove material Jordan wanted included, and you destroy his work. Who has the moral right to decide what should be removed and what should stay? Jordan is dead, there won't be any serious revisions. WOT, like any creative work, is to be taken as it stands, or not at all.

Secondly, there's no way to abridge WOT that would satisfy the WOT readership as a whole or even a large part of the readership, because everyone has his favorites side characters, side storylines, pet peeves and dislikes. There are countless addicts to geographical, historical, daily life details, character backgrounds and such. There are people who love Morgase or Perrin, and people who skip their chapters. There are people who prefer the tone and pace of the late series, and people who prefer the earlier books. Try reaching a consensus on what should and shouldn't be removed from any WOT book and you'll see.

The third problem is that it's irrealistic to think this could be done. Superficially it might appear possible, but those books are filled with details. Many of those parts some find "boring" or extraneous contain information that's connected to previous or later plot points. You remove a background mention of this or that Aes Sedai doing this or that, and you end up screwed when this minor detail returns books later and it suddenly makes no sense at all. You can't simply remove more than a few descriptions here and there without pretty soon ending up having to rewrite whole parts of the series, because the scenes that included this and that plot point are now gone and elements of the story just don't work anymore and you created a dry, borin and unreadable mess. It's like a giant game of dominoes, remove just enough and the whole thing collapses. If you cut Morgase's Amadicia storyline, you alter the timeline and details of the Seanchan invasion as she was the POV character witnessing these events (it's only in one of those chapters, one of the Niall ones, we learn the Seanchan have resumed their war of conquest... without that you'd lose the whole build up to their arrival in Ebou Dar), you end up with plot holes piled over plot holes like having no reason for Galad to become the Lord Commander. His storyline would then need to be rewritten. You'd rapidly need to rewrite material and alter the story so the internal logic is kept intact, for instance dialogue between Elayne and Thom about Morgase and so on. What would do with Perrin if you removed his late series storyline? It would ruin his character development and his post Malden/TG storyline would be totally impossible to tie to his storyline until LOC. Excising plot points from WOT without destroying the integrity of its logic (as oppposed to editing out removing descriptive passages, body languages and so on, which would mostly make WOT a series no longer bearing the style of its creator) would be a massive, massive undertaking.

An abridged version of WOT is a totally stupid idea, also to think WOT could be really shortened without ceasing to be WOT. Just pick abridged novels from the Reader's Digest and you'll get an idea of how much this totally destroy even a popular, not too literary novel and makes it boring and generic. If WOT is too long for you to bear, there's always the chapter summaries to refresh yourself about the important plot points and be able to reread the series skipping all the parts you don't like.