And, if you do the reinstall as @fireberd suggested, disconnect all audio input/output devices first, and then reboot the PC before you start the reinstall, doing the Realtek driver first and then Waves.
And, if you do the reinstall as @fireberd suggested, disconnect all audio input/output devices first, and then reboot the PC before you start the reinstall, doing the Realtek driver first and then Waves.