Long story short: If a widget by default is “self closing”. So by default it has no body. It’s called a fallback body
Long story 
As Eric pointed out for many widgets it’s common to have a “content”. The area between widget start-marker and the end-marker is also called body. eg: $let
The let-widget always “renders” it’s body.
<$let test-a="abc">
<<test-a>>
</$let>
Some widgets have a “fallback” value that is used, if a filter or a variable is empty. eg: list-widget. The emptyMessage parameter is used if the list-widget filter produces no result. eg:
<$list filter="[tag[non-existant]]" emptyMessage="n/a">
<$link/>
</$list>
So the emptyMessage contains a so called fallback value
Some widgets by default “ignore” their body. $view and $transclude, because they have parameters, that are used to show the content of something. $view and $transclude have a tiddler-parameter. Those widgets by default are self closing. They have /> at the end. They have no body. eg:
<$transclude $tiddler="non-existant"/>
Since the “non-existant” tiddler does not exist this transclusion would show nothing. Which may or may not be what a user wants. If we always need “output” there needs to be a mechanism allows us to do so. That’s the “fallback body”.
This fallback body is “prominently” used with the caption field in lists and the TOC macros. Which does this:
\define toc-caption()
\whitespace trim
<span class="tc-toc-caption tc-tiny-gap-left">
<$set name="tv-wikilinks" value="no">
<$transclude field="caption">
<$view field="title"/>
</$transclude>
</$set>
</span>
\end
By default the transclusion does not show anything, if it’s parameter does not exist. So if there is no caption-field, it would be empty. Since we do not want that, the transclusion widget uses a fallback body. …
It shows the title instead. Since the title field is the only field a tidder must have we can be sure there is something. Even if it is $:/very/long/title/like/this. May be not what we want to see, but at least there is something.
This mechanism is also used by the tabs-macro and probably many other places.
Hope that makes sense
-mario