It seem the atv version seem like a sequel to the tvb version because after the last dynasty goes into wing chun time and the characters used the same name even his master Wong Ra Bo.
i think cause those names are REAL names of REAL people
thats how the lineage of the wingchun kungfu was passed down (IN REAL LIFE)
wingchun history isnt very long compared too other kungfu
but the story and the characteristics of the characters may not be true....
I think its supposed to continue from the story the Prodigal Son (also with Yuen Biao back in the 80s), but there about the same. And yea, most of the characters are from real life back then.