BHM - Zones 1245 route via Northolt doesn't have a + preceding it, and obviously it is still valid via LU. Is this a formal rule saying no + means no LU validity?
(Obviously excepting dual availability i.e. Kings Cross - Finsbury Park)
Maltese Cross means cross-London transfer.
The ticket in the title is bizarre. Which TOC prices it please? I'd be also interested to know whether it started around the time that Shepherds Bush overground opened or earlier.
Assuming the intention isn't to restrict your journey to the two SWT journeys a day that pass through Wimbledon Park, then you would use the district line. As earls court is in zone 1 or 2, then you could change there (for district to ealing broadway) or instead change west brompton and again at Shepherds bush.
If I was going to price a journey from Woking to Ealing Broadway by a cheaper route, I would go for woking (then either via Chertsey or via Strawberry Hill), richmond, Acton (short walk) then FGW to Ealing Broadway - but that's just me. I would expect Earls Court to be quicker.
If you have the time or patience, I would email whichever TOC prices this ticket and ask for written confirmation of the routes you may take. Depending what they say, you may also like to ask LU whether their on-train revenue protection are aware of the ticket and the validity that the TOC say it has.
Please keep us updated re this bizarre ticket!