We were there Aug 15-22. We got a corner of Fay, so hurricanes are possible. Just showers and wind. We had trip insurance and I made sure I brought a hand crank radio/flashlight and peanut butter in case we had a day or 2 without power. So of course we didn't have anything big happen!
It's warm (85) and very sunny. It's not too crowded. The sales people I talked to said it was the end of the season for them. Some schools have already started (in FL, GA, and the Carolinas, especially) so I'm guessing it's not as bad as late July could be. Depending on who you're traveling with it can be a great week. We found that going forward the week will conflict with stuff like fall sport tryouts and band camp, so I don't think we'd go back that week for a while. We also met a bunch of people there on Explorer packages, so they must have had capacity at HRA for those people.
Atlantis had 2 events going on that week that did make parts of the week inconvenient. The Miss Teen USA pageant walled off some areas for photo shoots and such for part of the week. Then a huge German company had a convention there which closed down a number of the restaurants in the marketplace later in the week -- they rented all of Carmines and the steakhouse one night and the other large restaurants another night. To me this implies that the week isn't a big tourist week for the broader facility.
So have a great time!!