Li Shenron
Legend
"Word of recall teleports you instantly back to your sanctuary when the word is uttered. You must designate the sanctuary when you prepare the spell, and it must be a very familiar place. The actual point of arrival is a designated area no larger than 10 feet by 10 feet." - The Hypertext d20 SRD (v3.5 d20 System Reference Document) :: d20srd.org
WOR is an example of a magical effect cast at one time/place then suspended until the trigger word is uttered at another time/place. Accordingly, it seems like the reader would specify the destination point when read with the caveat a successful spellcraft check might be required to recognize the original destination word needing changed.
I'm sorry... "accordingly"? How do you make that reasoning?

The the RAW says that "using a scroll is basically like casting a spell".
What we need to find, is a RAW reference saying if scribing a scroll (or creating any magic item) requires to have the required spells prepared. I cannot find it right now... but somewhow I seem to remember this is the case. It's possible it was not RAW but only FAQ / Sage Advice. But if that's the case, then the destination of Word of Recall is certainly determined when the scroll is scribed.