Ok, I will look into this. Seems to be similar to a problem reported with the MOTU 828. I might be able to get my hands on one of these devices and debug the problem. Hope you can live with Wave drivers for a while.
btw. when you say cpu load is at 100%, I do hope you mean that the CPU indicator in Podium is red. This is misleading in this case, the actual cpu load should not be at 100%.