This page claims that 700c wheels will not fit on a triathlon-geometry frame due to the 78 (vs 73) degree seat tube angle. I suppose the seat stays could be lengthened to accomodate the change, at the cost of increasing wheelbase length. From their (not-to-scale) diagrams, it looks like the seat tube angle change effectively moves the bottom bracket back and the saddle forward, leaving everything else unchanged.
I found this while looking up whether I could just tell imtim to "google it" in another thread without being a complete jerk.
Google: "bike road difference"
http://www.bikesportmichigan.com/bikes/difference.shtml