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Webb said he was going to run on a third party ticket.
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The only reason for Webb to do that would be to keep moderates who are scared of Hillary or Sanders from voting for Republicans. Further, Webb knows that. So a third party run by Webb is essentially a conscious decision on his part to try and elect a Sanders or Clinton type and his character should be judged accordingly. That's the problem with Blue Dogs - if their own party doesn't put them down first, they end up biting the people who elected them at the behest of their Commie masters.
ETA: I should also add that to get on the ballot for all 50 states as a third party this late in the game would require someone with big, big money to sponsor Webb. He would need a pretty aggressive ground game if he plans a third party run,