After removing Wave Editor and every file I could find associated with it, I reinstalled the application from scratch, after cleansing all caches, including audio, AU's, etc.
After a fresh install, both the AU Validator and VST Validator "unexpectedly quit" on app launch. This is without the iLok attached. So now, nothing but Apple's AU's are available.
I have recently done a security update, a flash update, and possibly an incremental system update in the past week. Perhaps something has happened with all of that.
Are other users having problems?
I'm sure I'll hear from audiofile soon-they've been consistently good with communication. Despite that niggle with the iLok thing...
So if I find out something useful, I'll post back.
To end on a slightly more positive note, my level of, um, "frustration!!" is proportional to how much I enjoy working with that application.