Treat the AC voltage as 480Vrms, or 1340Vpp, or +- 700VDC
I don't know why its derated for AC, perhaps because they expect AC to be poorly regulated and spikey so they just give a general OK for 480VAC (standard industrial power kept within standard industrial regulations). Your results may vary for a shady indian steel mill but I figure they mean like ... reasonable for a factory. It might be from a generator, spike, be connected to a dirty grid, so the 30% derate is probably a 'safe bet'.
i.e. got a reasonable 3 phase 480Vac machine? you can use these capacitors
1000Vpp would be 700VRMS, but these systems don't commonly exist, and when you have 480V ac industrial power you expect serious abberations and 'poor behavior', so if the loads were all scaled up from 480Vrms to 700Vrms, you might get these capacitors start to fail when subjected to industrial factory abuse.
The standards go
480V Voltage between phases in USA in commonly used 3 phase distribution
600V Three phase power voltage
690V Three phase power voltage used in industry for larger electrical motors (Europe)
when I read "larger electrical motors" when 480V is called "commonly used", I think of a different world.
The common definition is:
Voltages 600 V and below are referred to as “low voltage,” voltages from 600 V-69 kV are referred to as “medium voltage,” voltages from 69 kV-230 kV are referred to as “high voltage” and voltages 230 kV-1,100 kV are referred to as “extra high voltage,” with 1,100 kV also referred to as “ultra high voltage.”
So I would say.. they are being safe by saying its good for 'commonly used' voltages with common loads, and when you start getting into 600V+ territory you are entering 'medium voltage' which is kind of a different world, with different pay scales, different outlooks on safety, etc. They don't want this wimpy shit going into medium voltage world so they cap it off at the middle of the 'low voltage' range. When there is medium voltage around you got different procedures, more training, more pay, more serious accidents, etc.. so they will want to use special parts for this that are probobly engineered a little differently.
I would say I imagine when it gets past 480Vrms you start getting a little 'psycho' with the designs and parts that makes them much less economical. Your load impedance also change with these larger machines (they go to dangerous 600V for a VERY good reason, cost and ease of generation), so the parts probobly need better withstand voltages and pulse ratings and shit like that. Just think of it as a different world with phenomena like 'explosive arc flashes', insurance premiums, etc. It's kind of like CAT rating in a meter. You can have a high voltage rating but a low CAT rating (i.e. for testing a air ionizer or helium laser power supply). Capacitors don't have CAT ratings, so they just assume when its more then 3 phase 480Vac industrial, they want better parts, with more testing and better QC, so they just tell you 'dont go there' with a general derating to cover their ass.