There was a junction alright which allowed a direct Waterford Wexford via Wellington Bridge, was removed back early 1900's
Bear in mind at the time the Waterford Dublin routing was mind boggling.
Waterford - Killkenny - Dublin
Waterford - Killkenny - Portlaoise (surprisingly a direct route!)
Waterford - New Ross - Macmine Jct - Dublin
Waterford - Wellington Bridge - Felthouse Junc - Dublin
Waterford - Wellington Bridge - Rosslare Strand - Dublin
Best routing is probably Waterford - Rosslare Strand - Rosslare Europort - Wexford for a local service but if you serve Rosslare Europort you lose time advantage to Wexford