A fact from Graph power appeared on Wikipedia's Main Page in the Did you know column on 4 March 2013 (check views). The text of the entry was as follows:
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I was wondering the same thing myself. I think the logical extension is that the weight of the edge A->C should be the minimum of weight(A->V) + weight(V->C) for all vertices V in the graph. If in your example, the only path from A to C is through B, then this minimum would be a+b as you say.