The female pilot radios the position of the enemy fighter as three o'clock off her starboard wing. Three o'clock is starboard. Straight ahead is twelve o'clock, starboard (right side) is three, aft (directly behind) is six, port (left side) is nine. The clock positions correspond to compass positions around the airplane. Then they used high and low for vertical position. Since she was looking to the right and up, the radio call should have been, "bogie, three o'clock high."
The WASPS said they were flying B-24s (Liberator), but the planes are actually B-25s (Mitchell).