If you set this field, the value of the variable ${WORKSPACE} will be changed with the one you provided, with all that that implies for build steps and/or other plugins that use this variable. Please note that Hudson's built-in option: custom workspace will also be overriden.

For implementation reasons, the variable will only be changed AFTER the view has been created or started. Therefore, you can use a path that points inside a dynamic view without worrying if the view is already mounted or not.

You can of course use environment variables in this field such as ${CLEARCASE_VIEWPATH}. If you give a relative path, it will be resolved against the path of the view. So vobs/vob1/component is equivalent to ${CLEARCASE_VIEWPATH}/vobs/vob1/component.