The web context label (the label you see in the Lucee Administrator) is generated internally by Lucee, not mod_cfml.
X-Webserver-Context is what Paul used to provide support for aliases. IE: web contexts that use multiple domain names. Originally, each domain name required its own context, but that was far more memory intensive than it needed to be. By identifying the primary web context of all aliases that come in, Paul made mod_cfml much 'slimmer' by assigning those domains as aliases rather than unique and separate contexts.
You can see its use in code here:
... around line 200.
HTH
-Jordan