Though more relaxed and colloquial to some persnickety ears, while may replace although and whereas in all formalities of writing. But writers must take care not to introduce ambiguity with the word’s temporal sense. Lazy writers may also be tempted to substitute and with while in rare cases to indicate a sort of temporal, agreeing conjunction; avoid such temptation.
As with among and amid, prefer while to whilst, a lingering archaism often used for affected formality.