There could be a million reasons you’re hitting your PHP limit and you’re right, multisite instances — in my experience — tend to be more resource-intensive than non-multisite instances. As I said, I don’t see any specific reason why the wiki plugin would do this more than any other plugin or post type — there is nothing unique about saving/publishing a wiki article that’s any different from saving/publishing a regular WordPress post or page.
I just tested locally on a multisite installation and nothing jumped out at me. There weren’t any major errors or warnings that were being thrown in the code.
Some things to look at specifically since you’re running multisite are the plugins you’re using particularly those that are network active. Not all plugins need to be network activated and network activating plugins may have an adverse effect on the overall performance of the site since you are requiring those scripts to be run on every page load. If there are things that you don’t need to run on every single sub-site, I would recommend deactivating them across the network and just activating them on those sites that need them. The TPC Memory Usage plugin I mentioned before will also tell you which functions/scripts are responsible for the most load, so that might help in tracking down what’s actually causing the problem.
I’m guessing it’s one of those situations where you’re hovering right on the border of maxing out your memory and the post action is just the straw that breaks the camel’s back rather than it being specifically related to the wpwtds plugin, but I’m certainly open to trying to optimize the plugin if it turns out that there are things in the code that could or should be done better I’m just not seeing anything that would directly lead to a memory leak type situation in my plugin.