I came across this Android WebView function WebSettings.setDomStorageEnabled(true)
and from the name alone I can infer that it simply \"enables DOM storage\".>
No. You will have to use it to enable some features of JS functionality as well.
devloper.android link:
http://developer.android.com/reference/android/webkit/WebSettings.html#setDomStorageEnabled%28boolean%29/
MDN explnation about DOM storage: https://developer.mozilla.org/en-US/docs/Web/Guide/API/DOM/Storage
You need to know there are security attacks that can be made (if you use it with js).
It opens some security vulnerabilities of the system.