I had lunch at Google HQ with the Android Wear Developer liason. Google has no immediate plans to allow users to search by Android Wear Compatible apps despite being able to mark apps as such when uploading new apps. They want to be able to closely control which apps make their curated listed (the one you find from within the Android Wear App).
We put in a request to be on the list with our fitness app, VimoFit, but have yet to make the list. Our app has been live for 2 weeks and is designed specifically for Andoird Wear.
Long story short, the best way to find apps is to search specific categories. Search "Android Wear fitness" or "Android Wear watch face." New apps are going up daily.