You will see this abbreviation a lot on this wiki, so it's for the best that you get a definition.
WIP stands for Work In Progress
It means that the title in question has yet to be finished, edited, or published. Most commonly the first option. Some titles marked as WIP are works in name only.
There are stages to a WIP:
- Gas - author has a brilliant idea
- Noodling - playing with the idea in hir head
- Nut Notes - bare bones description or world-building in progress
- Writing - actual prose happens
- Editing - the author's least-favourite activity
- Published - no longer a WIP
Owing to some interesting practices at Smashwords, all works are published at least twice. Once to get the work on file, and once when it has an ISBN. Further publishings are usually to correct errata.