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Have you looked through the code to see if they have some function by the name of "wl"? WL does not sound familure to me. It's possible they created a function to do some replace work, or just to eliminate the tedious retyping of "response.write" everytime they wanted to output text, I s'pose.
Having not used UltraDev 4, not sure I can help there, other to suggest looking to see if wl is some function in their code.
On a web server, the faster you can process pages, the faster the CPU is freed up to handle the next customer. That means that your server has more capacity.
However, as you noticed, it can be tedious. So there is a tradeoff.