I use a number of Swann color cameras with a capture board, but have never tried it with WD as that runs in a different computer. that is with the video survelence package from swann which is not very flexible.
I did get one of them connected with PySoftwares Activecam for a while until my wife objected to the camera pointing at the pool. I kinda liked it.
The camera you are talking about however is not one I have tried.