No, it is not possible to use the WDF File Access API in LabView to read *.WDF files.
Although LabVIEW can use and access DLLs, there is a special function in the WDF File Access API called WdfGetSacleWave64, which is used to read the data from the *.WDF file. This command uses a pointer, as one of the parameters and since LabVIEW uses clusters, it will run into an error when attempting to run the WdfGetSacleWave64 function. The WdfGetSacleWave64 function is the only way to retrieve and read the data in a *.WDF file.
There is a work around that will allow you to read the raw data in LabVIEW. LabVIEW can read *.FLD file formats.