It could be, depending on how loose your definition is for "compound document," but my opinion is "no." The Web is way more vast than a document. A Web page is a special type of document that can link to many different locations and other documents.
The spreadsheet does not change. The combination is called a compound document because of definition.
Is an external excel spreadsheet linked into a word document considered a compoound document in the microsoft enviroment?
Article
yes
Sure. Why not?
Well, is it??????
A web page
Probably
The web address of the Northeast Document Conservation Center is: www.nedcc.org
The term "WICD" refers to Web Integration Compound Document, Wireless Interface Connection Daemon, Women in Community Development, Waupaca Industrial Development Corporation.
The outer-most container tags in a web document are the opening and closing HTML tags. For instance: <html> [Web stuff here </html>
Compound.