By default under Fedora 17Alpha, Terminal GNOME 3.3.0, the mouse wheel scrolling is not active. Is it intentional? (works for other GNOME/GTK apps)
I believe this just happened with one of the updates. It was enabled on my system here, but now doesn't work. Scrolling only works if cursor is over the scroll bar, but doesn't work if it is in the regular window.
Todays updates seem to have fixed this issue for me. Still not certain what package was causing it, though.
Fixed in the vte3 update