I'm on Sprint so I don't know if this will work for you, but I flashed a new rom and forgot to reset google wallet. I went back and did a nandroid restore to my previous rom and google wallet was there functioning normally. I have actually done this twice forgetting to reset it each time but both times I nandroided back it was just fine.
Maybe I was lucky, but I have to find a way to remind myself to reset it just in case when I flash new roms.
This kinda happened to me too. I foolishly factory reset (accident, don't even ask lol) on my Verizon S3 and thought I was toast. I then restored a nandroid backup I had made just after setting up Google Wallet as instructed on these forums and it still worked. I thought I was screwed because I had forgot to reset Wallet, but I was ok I guess. Haven't gotten a secure element error or anything and I can see my funds.
Don't get me wrong, I'm not saying that you should not be careful. I think I just got lucky as well.