I see no reason for the pages not to coexist -- just as we have multiple pages on the English Wikipedia pointing out articles in need of help, hopefully there will be multiple pages on Meta coordinating work on worthwhile projects.
The main difference with the Collaboration of the Week (COTW) idea is that it should be featured on the individual Wikimedia projects to truly bring out a large number of volunteers working on a single task in multiple languages. That high level of exposure makes it necessary to have a selection process, and the voting rules as used on Wikimedia COTW have proven very successful for the English Wikipedia COTW.
The first WM-COTW will start on Monday; I'll send out a separate announcement then and Angela and I will try to get the template into use on some more Community Portals or similar pages. Any help is welcome.
Hopefully, if the WM-COTW is successful, this will get more people interested in Meta and, hence, in the [[We need your help]] page and similar tasklists.
All best,
Erik