By default - no, you cannot do anything about it. WCF will serialize your structures into something that can be represented with XML schema. XML Schema has no knowledge of anything but raw, and fairly simplistic data structures. You can only transfer concrete, raw data - no "magic" behavioral addon.
There is one solution to the problem, IF you own both ends of the wire: you could put your service and data contracts into a separate class library assembly, and share those between server and client. In that case, you only ever have one single implementation of your data contract - your ObservableCollection.
If you share that assembly between your service (implementation) class, and the client (add the reference to that assembly before you "Add Service Reference" from Visual Studio!), then your client should pick up that ObservableCollection and continue to use that (instead of creating a XML schema compatible Array on the client side).