The website of the dutch brand CadoMotus published an interesting article about 104 and 110 mm wheels. It compares both diameters, showing the advantages and the inconveniences of two diameters.
The article explains that we do not use completely the 110 mm wheels except if the speed borders 40 km/h. The 110 mm would offer many rolling but cost a lot of energy in case of acceleration.
The 104 mm would allow to accelerate more brutally but would offer a lower top speed.
More info : CadoMotus website