Yes, in most cases — a heavy pour of Worcestershire sauce is a concentration problem, not a chemical one, and diluting the dish pulls the flavor back below the point where it reads as fishy or sharp. The exception is anything already reduced down to a small volume, like a pan glaze or a thick gravy, where there's little room left to add more liquid without changing the dish entirely.
Why Worcestershire is built to be measured in teaspoons
Worcestershire sauce is a fermented concentrate: salted anchovies broken down over months into free amino acids and glutamate, mixed with tamarind extract, vinegar, molasses, and spices. Every one of those ingredients is potent on its own. A recipe calling for a teaspoon or two per quart of stock is accounting for that — the sauce is meant to disappear into the background, not announce itself.
Why too much tastes like fish instead of savory depth
Fermented anchovy is what makes Worcestershire taste savory rather than just sour and sweet, and it works the same way a splash of fish sauce does in a bowl of pho: diluted enough, glutamate reads as depth, not as fish. Push the concentration up and you cross a threshold. The same compound that read as "savory" at a teaspoon reads as "fish" at a tablespoon, because your palate stops averaging it into the background and starts tasting the source ingredient directly.
Why too much also tastes sharp
Vinegar and tamarind extract carry most of Worcestershire's acidity, and both stay in the sauce at a fairly high concentration to begin with. Add three tablespoons instead of one teaspoon and the acid load goes up by the same multiple everything else did. Molasses is in there to round that off, but molasses doesn't scale fast enough to keep pace — past a certain point you're tasting straight acid with a background of fish, and nothing left to balance it.
Can this batch be saved
The fix is the same one that caused the problem, run backward: add more of whatever the dish is built on — stock, tomato, dairy, water — without adding more Worcestershire, until the ratio drops back under the threshold where it stopped tasting like an ingredient and started tasting like the dish. A knob of butter or a spoon of sugar helps too, since both blunt how sharp and how fishy something reads without changing the volume at all.
Simmering uncovered for a few minutes helps a little on the acid side — vinegar's acetic acid is volatile enough to cook off some with heat and time — but it won't touch the fishiness, since the glutamate and salt aren't going anywhere. If the dish is already reduced down to almost nothing, like a glaze or a very thick pan sauce, there's not much room to dilute without also diluting everything else in it. At that point, the better move is starting the sauce over and adding the Worcestershire back in smaller amounts.