Hi!
There are a few ways to do this – template overrides are one of the easiest but it really depends on where you want to make the change. Your first stop though should be our Themer’s Guide which covers the basics 🙂
To take an example, if you want to change the word Tickets that appears above the ticket form in single event views, you could override the wotickets/tickets.php template and, in your own copy, find this line:
<h2><?php _e( 'Tickets', 'tribe-wootickets' );?></h2>
Simply change it to whatever you need, ie:
<h2>Waitlist Reservations</h2>
Does that help?