Looks like we have saw a long over due update for Winterboard today. Looks like it was updated to add support for iOS 8. What’s crazy about this update is there is no longer a Winterboard icon on your homescreen. You have to access Winterboard from your settings app now.
Change log is listed below.

Version 0.9.3916 has been updated to support some new features of iOS 7 and 8 thanks to help from Surenix, thekirbylover, alexzielenski, coolstar, Matchstic, and JunesiPhone.

To enable, disable, or change the order of themes, see the WinterBoard panel in the Settings app: there is no standalone app as of version 0.9.3916.

Wallpaper (whether png, html, or any of the other crazy formats that I should never have added to WinterBoard) is not currently supported on iOS 7/8 :(.

So get to Cydia and update Winterboard now!