I have a Woodsman similar to yours, mine is a '49 sport target and has had a little more use. It is perfectly FINE to shoot high velocity ammo in any second or third series Woodsman, and as was mentioned earlier, any first series made after about 1933 has the mainspring housing that is built for HV ammo.
Definitely shoot it but take great care, parts are terribly hard to find (in some cases impossible) and when you do find them they are terribly expensive.
Thats a great find. Hang onto it they dont make 'em like that anymore