Yes you can with the Seagate version. I can also do it with Macrium as well,I just double click on the image and it mounts on a virtual hdd (Windows says it has stopped working, but the option box shows up anyway, and i can pull anything from the image).
Didn't fully read the WD manual but I know the Seagate version allows for full backups (need the paid version for incrementals), as well as making a recovery disk to reload the image if necessary. I would assume the WD version to be the same.