I implemented another easy plugin, which adds a status bar button and an action which allows to toggle the line wrap setting. You do not have to use the options dialog and you can assign a shortcut for it. It is compatible to NetBeans >7.0
More details and download at http://plugins.netbeans.org/plugin/45663/?show=true (sourcecode is also available).
In a few days it will also be available the at NetBeans IDE Update Center and you can install it from within your IDE. Stay tuned.