CWOF is  legalspeak for a continuous without a finding.  A CWOF is a potential way to dispose of a criminal case prior to trial.  It is not an affirmative plea of guilt.  However, it is an admission.  It is an admission to sufficient facts. 

When one admits to sufficient facts, one is admitting to the court that if all the evidence gathered up to that point, against the defendant, were presented to a trier of fact (i.e. a judge in a case of bench trial  or a jury in case of a jury trial) there would be enough evidence to support a conviction.  If accepted, the court would continue the matter without a finding of guilt.  A defendant admitting to sufficient facts, would then be placed on "supervision."  A defendant being "supervised" under a CWOF could have the same obligations as a defendant placed on probation.  A  violation of any of the terms and conditions of the "supervision" of a CWOF could result in the CWOF being revoked and a finding of guilt being imposed.  The beauty of a CWOF however, is that, upon successful completion of the terms and conditions of the "supervision",  the matter is dismissed. 

This type of disposition is especially adventagous for first time offenders who may find themselves accused of a felony.  In that type of situation it can be an effective way to avoid a felony conviction. 

A CWOF is by no means a free pass.  It still requires a defendant to make an admission.  This can be especially problematic for criminal defendants with immigration issues as INS could equate an admission via a CWOF, with a conviction.