Waves have announced that Waves Native plug-ins and WLC are now OS X 10.10 Yosemite Compatibile.
Their full statement reads:
Dear Valued Waves User,
We are pleased to announce that all Waves Native plugins V9 as well as the Waves License Center are now fully compatible with Mac OS X 10.10 Yosemite.
Click here to download the updated installer.
Please note: SoundGrid plugins and software applications are not yet supported by Mac OS X 10.10 Yosemite. We are working to resolve this compatibility issue as soon as possible.
If further assistance is required, you are more than welcome to contact our tech support team.
The Waves Team