There were two versions of the smokeless .455 Webley, the Mark I and Mark II. The Mk I has a case length of about .88" and the Mk II case length is about .77" (ever notice how the Brits seemed to love double numbers? Or double numbers separated by a zero as in .303?

). The Mark I had started life as a black powder round. When the switch to less bulky smokeless powder occured, the Brits reasoned they could get the same performance from a shorter case, hence the advent of the Mark II. But they still had some Mark I smokeless around as well.
Anyways, the .455 Webley Mk I's case is just about exactly as long as a .45 ACP. I don't have experience with the old WWI S&Ws in .455, but my WWI New Service readily chambers the longer Mk I. This is only supposition, but I would assume that the Brits would have wanted them chambered to accommodate the longer cartridge, since then the shorter cartridge could be used as well. In a pinch, whatever version was available could be used.
I was wondering how you dated it to 1918.

I think the British contract was cancelled in 1917, when the US entered the war so woefully short of pistols that the Army contracted with S&W as well as Colt to provide the Model of 1917 to supplement the standard-issue Model of 1911. No resources left over to make revolvers for the Brits. I know some .455s were put togther and sold after the war. If you post your serial number (x out the last few digits if you like), someone here can probably give a pretty good estimate of when it left the S&W factory.
Put me in the camp that says don't convert it. If it already has been converted, put me in the camp that says shoot reduced loads if you shoot it at all.
Might as well post this picture. Note that ".455 Colt" was Colt's name for .455 Webley Mark I. Obviously, Dominion used that name as well. By the way, it can be clearly seen that Fiocchi uses/used small pistol primers: