From their website:

"Waldorf Edition Update V1.2.3
30/10/2006:
This update is strongly recommended for all users of the new Waldorf Edition package published by Waldorf. It addresses the following issues:

Saving and loading of Sounds and Banks on computers with Intel processors (Windows and Intel Mac) with the PPG Wave 2.V. The resulting files had some wrong values that might result in wrong behaviour or even crashes when loading them or opening song projects. Note that the PPG Wave 2.V 1.2.3 can load these erroneous Sounds or Banks and saves them back properly if wanted.
Opening the PPG Wave 2.V as AudioUnit in Logic might result in up to 32 output channels assigned to the PPG Wave 2.V when run as a multi out instrument. On these outputs, digital noise might have occured.
Note
This update only works with the Waldorf Edition published by Waldorf. The update does not work with and is not needed for the legacy Waldorf Edition published by Steinberg. Customers of Steinberg's Waldorf Edition can upgrade to the new Waldorf Edition. Contact your local distributor for details."