We've had this conversation in a couple of places already. An agent told me this http://www.flyertalk.com/forum/26930183-post311.html but also see this thread http://www.flyertalk.com/forum/alask...l#post27097639.

I was told you will no longer see the 'First Class Waitlisted' text until you are actually added to the waitlist at your upgrade window. For reservations made prior to the change, it still shows. But from the point of the change onwards, the agent told me you won't see the text but you will still be on the waitlist-before-the-waitlist.

She said it was because you aren't actually ON the upgrade waitlist until your window and people were confusing the two.