Sorta... the WVDC term was coined back when capacitors commonly needed two voltage ratings. working voltage, and surge voltage.
Working voltage is the maximum allowed voltage the capacitor could sustain continuously without damaging it. The reason this was needed was for vacuum tube circuitry.
in most cases, the 5U4, or 5X3, etc.. rectifier tube would warm up and start to supply DC voltage before the rest of the tubes warmed up. this would cause a surge in B+ current initially, sometimes 150+ volts above the operating voltage, maybe even more. An example would be a 350VDC B+ power supply initially starting off as 500V or more before quickly falling down to the correct operating range.
Then the rest of the tubes would begin to warm up, and draw current. This would overcome the resistance and losses in the power transformer, allowing the B+ voltage to fall. in safe ranges.
Todays capacitors are not rated for this. they just have a working voltage. So they are now relabeled as just VDC, or VAC. So when recapping vintage gear, you want to overrate the capacitors past the surge voltage.
Before you ask, yes.. vacuum tube technology was in and gone way before my time, but I still understand alot about the technology behind it as I do service the stuff from time to time. Also its hard to understand todays technology without knowing the roots behind it, and where it all came from.