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Recent advances in control have enabled bipedal-wheeled robots to traverse slopes and single-step obstacles, yet long staircase traversal remains challenging as current teacher-student frameworks suffer from weakened dynamics-aware representations and incomplete terrain geometry encoding. To bridge this gap, we propose DynaWM, a dynamics-aware representation learning framework. To enhance terrain encoding capability and enable transparent assessment, we introduce a world model as a regularizer to enforce forward-dynamics awareness, preserving comprehensive terrain geometry while facilitating hierarchical encoding visualization. To stabilize knowledge transfer, we employ a momentum target encoder to provide consistent distillation targets, preventing dimensional collapse from non-stationary teacher updates. Evaluation of the learned representations through Principal Component Analysis (PCA) visualization and quantitative metrics reveals that our encoder hierarchically captures terrain geometry with higher terrain encoding capability, leading to enhanced terrain adaptability and motion smoothness. Experimental results in simulation and real hardware demonstrate that our method achieves superior terrain adaptability and motion smoothness, enabling bipedal-wheeled robots to overcome diverse continuous stairs, as shown in Fig. 1.