Watching Out for You
WOFY means watching out for you, it is the slogan for news 3 in Las Vegas.
It appears that "wofy" is not a widely recognized term or acronym in common usage. If you can provide more context or details, I may be able to offer more information or clarification.
Well WOFY stands for WesternOrganization ofFurryYouth
I think it is an advertisement for Channel 3 News -- their motto is "Watching Out For You" Not sure how much value they are getting for their advertising dollar if nobody can figure out what it means.