NERD originally thought that it was woma plus an extra gene, but in subsequent breedings decided that it is actually a separate co-dominant morph. They took a stab at calling it a 'Type 2 Woma', but the HG Woma name seems to have stuck.
It's not related to the woma morph, which appears to be a dominant gene, not a co-dominant gene. Womas will not produce a pearl, and there is a breeder who claims to have a homozygous woma which looks the same as heterozygous womas.
Think of it as being similar to the 'desert ghost'. It's called a ghost, but it's unrelated to orange/green/yellow ghost hypo lines, and it's also not a 'true ghost' (which is a combo morph).
Names can lead to a lot of confusion.
Additionally, when people say 'hidden gene', they're not always talking about the hidden gene woma. There are other genes out there might be referred to that way--for example, the 'Daddy gene' that turns lesser platinums into platinums.