Extensive searches of ancestry.com, familysearch.org, geni.com, and other genealogy websites turned up no documentary sources for George Wood in this time period in Virginia. An internet search using both Google and Bing also turned up nothing. He is listed frequently in family trees as son of Abraham Wood and Margaret Llewellyn, but with no sources proving the relationship.
It is possible the reference is to a George Wood, member of the Wood family in Massachusetts. But again, no documentation was found.
It does not appear that George Wood, born 1654 and died 1729, really existed.