From my knowledge of Classical Arabic i think this word may come from the expression "wa laou..." or "wa la.." which means "Not even a ..." this is not a scientific hypothesis taken out of an academic research or something but it seems to me the nearest and most plausible connection.. i know that in algerian kabyle "Berber" walloo means "oulach" which seems nearer to the arabic "wa la chai'" meaning not a single thing .. Nevertheless, the word could may come from Tamazight or any other foreign lanaguage with which we had to deal in the past... wa allah a3lam