Wall styles are not new, but they have been improved. You now have control over the 3D height of each wall component. This makes it possible to have wall components that finish below the slab (for weatherboard, brick or sheet cladding), or finish below the top of the framing.
If you are upgrading from Vectorworks 2010, you will not see many changes on the Wall Preferences dialog box. If you are upgrading from earlier versions, you might see a few changes. One of the new features introduced in Vectorworks 2010 was the core wall concept. In this image you will see that one wall component has a check next to it for the Core. This becomes important for Auto-Join walls, because Vectorworks will join the cores together. Also, when we look at slabs, you will see that core walll can be used.