Hi Jay, what kind of insulin regimen are you on and how much control do you have over it? For example: is it a once or twice a day long acting (basal )insulin like Lantus or Levemir, or do you also take short acting (bolus) insulin with meals? Are these fixed doses (prescribed by your HCPs) or can you vary the amounts as needed?
How has your Blood Glucose control been? You mention a concern about hypos... have you had any? How often are you testing?
Insulin is an anabolic hormone that helps to move glucose and fat (and protein) into the cells. It has a significant role in fat storage. It requires careful balancing to make sure that you have enough for BG control but not so much that you risk going hypo and end up "chasing your tail" by eating more than you may want, in order to counteract the insulin's effect. This can lead to excess fat mass (weight gain).
Storing excess fat mass can add to insulin resistance and make diabetes harder to manage, so losing or at least not gaining additional fat mass is a good idea. I have had great success with a low carb approach (but I also had to cut way back on my injected insulin) and you may find that WW has support for a low carb program.
If you do not have control over your own insulin dosing, I suggest you ask your Doctor about reducing the dosage.