Yes, you can do that, but it depends on the permission scheme of the project, if you have the rights to view or edit the work logs.
Usually you click on the "work log" tab to view the work logs. And each work log entry can be edited if you click on the pencil icon.
I have multiple projects that use variations of the same base workflow. The variations depend on the requirements of the project or issue type. The variations mostly come in the form of new statuses ...
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