The short answer is Yes.  Unless it is dismissed prior to the arraignment, the charge will show up but there will be a dismissal on your record with the charge.  It is not easy to use this against you but the courts and anyone who has access to your record will see it.

 Many times, Judge's, Lawyers and others will tell you that a CWOF does not show up or just shows up as a dismissal.  It is not a conviction but shows up on your record as  CWOF for the period of time and then a dismissal.  It is many times a very reasonable disposition but you need to realize that it does show up on your record as a continuance without a finding which is generally treated as an admission to sufficient facts by the court  and others.  It is much better than a conviction but not the same as a straight dismissal.