A footnote in the NET Bible at Rev 12:1 says:
Sun…moon…stars. This imagery is frequently identified with the nation Israel because of Joseph’s dream in Gen 37.
The whole Woman/Serpent image is reminiscent of Gen 3:15.
Where Rev 12:5 refers to the 'woman giving birth to a son, a male child' is an allusion to Isa 66:7. The phrase about the child 'shepherding the nations with an iron rod' (also Rev 12:5) is an allusion to Ps 2:9.
All these OT allusions bring to mind the Messiah as the "child." A comment in Constable's Notes says:
In view of Old Testament imagery (cf. Isa. 54:1-6; Jer. 3:20; Ezek. 16:8-14; Hos. 2:19-20) and the following reasons, the “woman” seems to symbolize the nation of Israel. She wears a crown (Gr. stephanos) with the sun, moon, and stars, as God pictured Israel in one of the nation’s early symbolic representations (Gen. 37:9-11; cf. Isa. 26:17-18; 60:1-3, 20). There are many figurative references to Israel as a travailing woman in the Old Testament (Is. 26:17-18; 66:7-9; Jer. 4:31; 13:21; Mic. 4:10; 5:3). She eventually gave birth to Christ (v. 5). In Genesis 37:9-10, the sun corresponds to Jacob, the moon to Rachel, and the 12 stars to Israel’s 12 sons (cf. 7:5-8; 21:12).
The Abrahamic covenant has two sub-covenants. The 1st one produces the Messiah, the "seed of Abraham." (Gal 3:16) The 2nd is the new covenant. This produces the offspring of the seed, related to him via faith. (Gal 3:22-29)
Regarding Rev 12:5, Constable's Notes comments:
The birth of Jesus and His ascension are the events in view here. Satan failed to destroy Jesus at His birth, and because he also failed to destroy Him during His life and in His death, Jesus Christ ascended victoriously into heaven. Satan cannot persecute Him there. Christ will yet rule the world with an iron shepherd’s rod (Ps. 2). The emphases in this whole review of Satan’s opposition to Jesus are Jesus’ victory and Satan’s continuing antagonism.
I think most commentaries are similar in thought as is Constable's Notes. I use that commentary simply because it is online (at NetBible.Org) and easy to copy from.
So I think it is pretty obvious from the above that I view the "child" as the Messiah (Jesus). If so, then, the 'being caught up to God' would obviously refer to Jesus' resurrection and ascension to God. (And in this context, "caught up" would seem more apropos than "caught away." But that is probably splitting hairs.)
If the Rev 12 passage is seen this way, the WT's explanation appears more to be an obvious form of eisegesis. Nothing more than an attempt to support their 1914/1919 idea. It only works because the WT demands unquestioning acceptance of their teachings.