Yes, so you didn't get it, too.
Wave isn't the sandbox you've seen on the web.
If i remember correctly, the webclient didn't even use the "real protocol" but some hacked-together protocol buffers for demonstration purposes. Not sure about today, but when the beta started there wasn't even an official client/server protocol. It was still under discussion[1].
Sadly, the world never saw the "real" Wave, with server-to-server communication, different clients, etc.
[1] https://groups.google.com/group/wave-protocol/browse_thread/...