So far as I can tell, it is to call distinction against more formalized, 'bureaucratic' unions, which are the predominate form in a Capitalist society, whose hierarchy regulates/restricts the actions of its individual members. Wildcat Unionism would describe itself as similar to the IWW; as a mutualist/mutual aid form of unionism rather than the more traditional marxist union, so often ruled by power dynamics very similar to the ones it was supposedly formed to resist. Probably not a recognized term by marxist anarchists.
Most notably attributed to Kevin Carson in 'Labor Struggle in a Free Market', Ch 26 in the anthology 'Markets Not Capitalism'.