Renaming words in WooCommerce status dashboard widget

Solution:

A solution I’d rather avoid, but this will be one of the quickest/easiest solutions.

Use jQuery. Make sure that the text you want to replace completely matches. For example, if this has already been translated, you should also apply it like this

So you get:

// Prints scripts or data before the default footer scripts.
// This hook is for admin only and can’t be used to add anything on the front end.
function action_admin_footer() {
    ?>
    <script>
        jQuery(document).ready(function($) {
            $( 'ul.wc_status_list .processing-orders a' ).html( function( index, text ) {
                return text.replace( 'awaiting processing', 'first new text' );
            });
            
            $( 'ul.wc_status_list .on-hold-orders a' ).html( function( index, text ) {
                return text.replace( 'on-hold', 'second new text' );
            });
        });
    </script>
    <?php
}
add_action( 'admin_footer', 'action_admin_footer' );