Hi Syed,
I have arrived a bit late in this conversation but I have had some experience with the XML file associated with WV5. You might be able to implement some additional functionality in WV5. Depending always what your goal is.
It seems that some sort of XAML has been employed when developing WV5, i.e, WV5 queries the board to find out which equipment you have got and then loads the necessary xml file. The XML file in a nifty way describes in a class-like manner what sort of registers the FPGA has declared in its verilog code and the associated operations (read/write) and the related op-codes. For example when you press the acquire button an op-code is sent from the PC, to the Cypress mcu and then to the FPGA which then runs whatever the op-code tells it to do.
You can add tabs, menus, buttons and implement additional functionality by using the XML file and by observing what the rest of the XML file does. I have implemented a couple more registers in the verilog code and extended the XML file to send some values and read succesfully read them back. So far this has served my purposes.
Best,
Evros