I wrap mine with plastic wrap and I DON'T like it...looking for another way. I've hear some cut waxpaper circles to put on the boards BUT others say the wax paper gets soggy.
Be careful using coconut, make sure you TELL whoever it is for, some people are allergic. I hate coconut so I would be upset if it were on my cake...but that's just me 
I use powdered sugar.
from the heat of the cake.. 
I use foamcore wrapped in press and seal wrap. The press and seal sticks to it well enough that a knife won't cut it when the cake is cut.
It is a little more trouble to cut the circles, but I want my circles exactly the right size, so I used to have to cut down the cardboard ones too.
I baked yesterday for my first stacked cake also (just making it for the Wilton Tall Cakes class tomorrow) and I read online somewhere that you should wrap the boards in fanci-foil or something else to protect them from the grease. Is it really ok to just leave them plain?
If a cake is to be sitting out for a while and the tiers are heavy, it would make sense to me to cover the little boards. If they are the thin non-coated cardboard rings there is a possibility of them getting soft, making either the cake start to sag or even making it more difficult for whoever is carving it to take the tier off the cake without a big mess. I just wrap with white Freezer Wrap from the grocery store. It looks neater and keeps any and all moisture out. To me it's always better safe than sorry.
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