I wonder if it is just position (of the listener) dependent? IOW, the sound is constant (like the rolling wheel example above), but since the disk is changing its "face" relative to the listener, the listener is hearing the sound change as the "face" changes.
Ever see the rotating horn on a Leslie™ Speaker (mostly used on Hammond organs, to provide a complex vibrato/tremolo/comb-filter effect)? You get a sort of whoop-whoop-whoop-whoop sound out, with a static tone applied. A little like the sound of a Euler disk, especially if you input a filtered noise sound that the disk or rolling wheel is probably making.
If you plugged one ear, and placed your other ear (or better, a microphone) directly above the axis of the spinning disk, would the sound be more constant? I wouldn't expect the variation to go away completely, you will get reflections from the room. Try it in an an-echoic chamber! :)