Starting line 1581:

D 00:31:40.7267591 GameState.DebugPrintPower() - BLOCK_START BlockType=PLAY Entity=[name=Wilfred Fizzlebang id=91 zone=HAND zonePos=8 cardId=AT_027 player=1] EffectCardId= EffectIndex=0 Target=0
D 00:31:40.7282627 GameState.DebugPrintPower() -     TAG_CHANGE Entity=Elekim tag=RESOURCES_USED value=4
D 00:31:40.7292653 GameState.DebugPrintPower() -     TAG_CHANGE Entity=Elekim tag=NUM_RESOURCES_SPENT_THIS_GAME value=143
D 00:31:40.7302680 GameState.DebugPrintPower() -     TAG_CHANGE Entity=Elekim tag=NUM_CARDS_PLAYED_THIS_TURN value=2
D 00:31:40.7312707 GameState.DebugPrintPower() -     TAG_CHANGE Entity=Elekim tag=NUM_MINIONS_PLAYED_THIS_TURN value=1
D 00:31:40.7322733 GameState.DebugPrintPower() -     TAG_CHANGE Entity=[name=Wilfred Fizzlebang id=91 zone=HAND zonePos=8 cardId=AT_027 player=1] tag=ZONE value=PLAY
D 00:31:40.7332764 GameState.DebugPrintPower() -     TAG_CHANGE Entity=[name=Wilfred Fizzlebang id=91 zone=HAND zonePos=8 cardId=AT_027 player=1] tag=COST value=6
D 00:31:40.7347800 GameState.DebugPrintPower() -     TAG_CHANGE Entity=[name=Wilfred Fizzlebang id=91 zone=HAND zonePos=8 cardId=AT_027 player=1] tag=ZONE_POSITION value=5
D 00:31:40.7357827 GameState.DebugPrintPower() -     TAG_CHANGE Entity=[name=Wilfred Fizzlebang id=91 zone=HAND zonePos=8 cardId=AT_027 player=1] tag=NUM_TURNS_IN_PLAY value=0
D 00:31:40.7367853 GameState.DebugPrintPower() -     TAG_CHANGE Entity=[name=Wilfred Fizzlebang id=91 zone=HAND zonePos=8 cardId=AT_027 player=1] tag=EXHAUSTED value=1
D 00:31:40.7382886 GameState.DebugPrintPower() -     TAG_CHANGE Entity=[name=Wilfred Fizzlebang id=91 zone=HAND zonePos=8 cardId=AT_027 player=1] tag=JUST_PLAYED value=1
D 00:31:40.7398356 GameState.DebugPrintPower() -     TAG_CHANGE Entity=Elekim tag=LAST_CARD_PLAYED value=91
D 00:31:40.7407960 GameState.DebugPrintPower() -     BLOCK_START BlockType=POWER Entity=[name=Wilfred Fizzlebang id=91 zone=HAND zonePos=8 cardId=AT_027 player=1] EffectCardId= EffectIndex=-1 Target=0
D 00:31:40.7423099 GameState.DebugPrintPower() -     BLOCK_END
D 00:31:40.7433201 GameState.DebugPrintPower() -     TAG_CHANGE Entity=Elekim tag=NUM_OPTIONS_PLAYED_THIS_TURN value=2
D 00:31:40.7443042 GameState.DebugPrintPower() - BLOCK_END

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As we can see, when we play Wilfred Fizzlebang we don't see any interesting tags change.

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Starting line 1650:

D 00:31:45.5231461 GameState.DebugPrintPower() - BLOCK_START BlockType=PLAY Entity=[name=Life Tap id=107 zone=PLAY zonePos=0 cardId=CS2_056 player=1] EffectCardId= EffectIndex=0 Target=0
D 00:31:45.5241456 GameState.DebugPrintPower() -     TAG_CHANGE Entity=Elekim tag=RESOURCES_USED value=6
D 00:31:45.5251510 GameState.DebugPrintPower() -     TAG_CHANGE Entity=Elekim tag=NUM_RESOURCES_SPENT_THIS_GAME value=145
D 00:31:45.5261181 GameState.DebugPrintPower() -     BLOCK_START BlockType=POWER Entity=[name=Life Tap id=107 zone=PLAY zonePos=0 cardId=CS2_056 player=1] EffectCardId= EffectIndex=-1 Target=0
D 00:31:45.5276257 GameState.DebugPrintPower() -         META_DATA - Meta=TARGET Data=0 Info=1
D 00:31:45.5291787 GameState.DebugPrintPower() -         TAG_CHANGE Entity=[name=Valeera Sanguinar id=64 zone=PLAY zonePos=0 cardId=HERO_03 player=1] tag=PREDAMAGE value=2
D 00:31:45.5311753 GameState.DebugPrintPower() -         TAG_CHANGE Entity=[name=Valeera Sanguinar id=64 zone=PLAY zonePos=0 cardId=HERO_03 player=1] tag=PREDAMAGE value=0
D 00:31:45.5321788 GameState.DebugPrintPower() -         META_DATA - Meta=DAMAGE Data=2 Info=1
D 00:31:45.5331388 GameState.DebugPrintPower() -         TAG_CHANGE Entity=[name=Valeera Sanguinar id=64 zone=PLAY zonePos=0 cardId=HERO_03 player=1] tag=DAMAGE value=26
D 00:31:45.5346447 GameState.DebugPrintPower() -         SHOW_ENTITY - Updating Entity=[id=20 cardId= type=INVALID zone=DECK zonePos=0 player=1] CardID=FP1_012
D 00:31:45.5361487 GameState.DebugPrintPower() -             tag=HEALTH value=5
D 00:31:45.5371542 GameState.DebugPrintPower() -             tag=ATK value=3
D 00:31:45.5376555 GameState.DebugPrintPower() -             tag=COST value=5
D 00:31:45.5386582 GameState.DebugPrintPower() -             tag=ZONE value=HAND
D 00:31:45.5396608 GameState.DebugPrintPower() -             tag=TAUNT value=1
D 00:31:45.5401622 GameState.DebugPrintPower() -             tag=CARDTYPE value=MINION
D 00:31:45.5411652 GameState.DebugPrintPower() -             tag=RARITY value=RARE
D 00:31:45.5421675 GameState.DebugPrintPower() -             tag=DEATHRATTLE value=1
D 00:31:45.5426688 GameState.DebugPrintPower() -         TAG_CHANGE Entity=[id=20 cardId= type=INVALID zone=DECK zonePos=0 player=1] tag=ZONE_POSITION value=8
D 00:31:45.5441728 GameState.DebugPrintPower() -         TAG_CHANGE Entity=Elekim tag=NUM_CARDS_DRAWN_THIS_TURN value=2
D 00:31:45.5451755 GameState.DebugPrintPower() -         FULL_ENTITY - Creating ID=115 CardID=AT_027e
D 00:31:45.5456768 GameState.DebugPrintPower() -             tag=ZONE value=SETASIDE
D 00:31:45.5466795 GameState.DebugPrintPower() -             tag=CONTROLLER value=1
D 00:31:45.5476822 GameState.DebugPrintPower() -             tag=ENTITY_ID value=115
D 00:31:45.5481839 GameState.DebugPrintPower() -             tag=CARDTYPE value=ENCHANTMENT
D 00:31:45.5491862 GameState.DebugPrintPower() -             tag=CREATOR value=107
D 00:31:45.5501904 GameState.DebugPrintPower() -         TAG_CHANGE Entity=115 tag=ATTACHED value=20
D 00:31:45.5511927 GameState.DebugPrintPower() -         TAG_CHANGE Entity=115 tag=ZONE value=PLAY
D 00:31:45.5526955 GameState.DebugPrintPower() -     BLOCK_END
D 00:31:45.5531969 GameState.DebugPrintPower() -     TAG_CHANGE Entity=Elekim tag=HEROPOWER_ACTIVATIONS_THIS_TURN value=1
D 00:31:45.5541995 GameState.DebugPrintPower() -     TAG_CHANGE Entity=[name=Life Tap id=107 zone=PLAY zonePos=0 cardId=CS2_056 player=1] tag=EXHAUSTED value=1
D 00:31:45.5552022 GameState.DebugPrintPower() -     TAG_CHANGE Entity=[id=20 cardId= type=INVALID zone=DECK zonePos=0 player=1] tag=COST value=0
D 00:31:45.5567062 GameState.DebugPrintPower() -     BLOCK_START BlockType=TRIGGER Entity=Elekim EffectCardId= EffectIndex=-1 Target=0
D 00:31:45.5577093 GameState.DebugPrintPower() -         TAG_CHANGE Entity=Elekim tag=NUM_TIMES_HERO_POWER_USED_THIS_GAME value=5
D 00:31:45.5587115 GameState.DebugPrintPower() -     BLOCK_END
D 00:31:45.5592129 GameState.DebugPrintPower() -     BLOCK_START BlockType=TRIGGER Entity=[name=Tournament Medic id=31 zone=PLAY zonePos=3 cardId=AT_091 player=1] EffectCardId= EffectIndex=0 Target=0
D 00:31:45.5607169 GameState.DebugPrintPower() -         META_DATA - Meta=TARGET Data=0 Info=1
D 00:31:45.5612182 GameState.DebugPrintPower() -         TAG_CHANGE Entity=[name=Valeera Sanguinar id=64 zone=PLAY zonePos=0 cardId=HERO_03 player=1] tag=PREHEALING value=2
D 00:31:45.5627222 GameState.DebugPrintPower() -         TAG_CHANGE Entity=[name=Valeera Sanguinar id=64 zone=PLAY zonePos=0 cardId=HERO_03 player=1] tag=PREHEALING value=0
D 00:31:45.5637249 GameState.DebugPrintPower() -         META_DATA - Meta=HEALING Data=2 Info=1
D 00:31:45.5647275 GameState.DebugPrintPower() -         TAG_CHANGE Entity=[name=Valeera Sanguinar id=64 zone=PLAY zonePos=0 cardId=HERO_03 player=1] tag=DAMAGE value=24
D 00:31:45.5662327 GameState.DebugPrintPower() -     BLOCK_END
D 00:31:45.5672389 GameState.DebugPrintPower() -     BLOCK_START BlockType=TRIGGER Entity=[name=Tournament Medic id=23 zone=PLAY zonePos=1 cardId=AT_091 player=1] EffectCardId= EffectIndex=0 Target=0
D 00:31:45.5687836 GameState.DebugPrintPower() -         META_DATA - Meta=TARGET Data=0 Info=1
D 00:31:45.5697875 GameState.DebugPrintPower() -         TAG_CHANGE Entity=[name=Valeera Sanguinar id=64 zone=PLAY zonePos=0 cardId=HERO_03 player=1] tag=PREHEALING value=2
D 00:31:45.5712484 GameState.DebugPrintPower() -         TAG_CHANGE Entity=[name=Valeera Sanguinar id=64 zone=PLAY zonePos=0 cardId=HERO_03 player=1] tag=PREHEALING value=0
D 00:31:45.5732534 GameState.DebugPrintPower() -         META_DATA - Meta=HEALING Data=2 Info=1
D 00:31:45.5742556 GameState.DebugPrintPower() -         TAG_CHANGE Entity=[name=Valeera Sanguinar id=64 zone=PLAY zonePos=0 cardId=HERO_03 player=1] tag=DAMAGE value=22
D 00:31:45.5752583 GameState.DebugPrintPower() -     BLOCK_END
D 00:31:45.5762614 GameState.DebugPrintPower() -     TAG_CHANGE Entity=Elekim tag=NUM_OPTIONS_PLAYED_THIS_TURN value=3
D 00:31:45.5772656 GameState.DebugPrintPower() - BLOCK_END

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"AT_027e" is: Master Summoner  [AT_027e TGT][Warlock Enchantment][]:  Costs (0).

It's created and attached during Life Tap's resolution in the Hero Power Phase, after the card is drawn, but before the hero power is exhausted. It's created by Entity id 107, which is your Life Tap Hero Power. The Entity id 91 (Wilfred Fizzlebang) doesn't even get referenced this entire time.

So Wilfred Fizzlebang isn't a triggered effect. Either Life Tap explicitly looks for Wilfred Fizzlebang, or Wilfred Fizzlebang is setting a tag on your player that isn't in power.log (isn't transmitted to the players).

If the card drawn by Life Tap is Flame Leviathan/Sea Reaver which causes a friendly Wilfred Fizzlebang to enter or leave your control (not sure if this is possible currently?), it's unclear what will happen (if the card will be discounted or not).