I got myself all set up with Google Wave and now I’m testing the Embed API with the Wavr WordPress plugin. If you have a Google Wave account, feel free to futz with the Wave below…
[wave id="googlewave.com!w+TyO9W9VgC" color="#000000" bgcolor="#ffffff" font="Courier New, Courier, mono" server="https://wave.google.com/wave/"]

if you send me an invite I could play with it. :)