The new version of the Waldorf MicroWave 1 Sound Editor supports additional plattforms:
Apple Mac OS-X, starting 10.7, both as standalone app or VST plug-in
VST hosts, that block Midi SysEx data, e.g. Ableton Live
Using free edition in standalone, you need to send a preset to your device by clicking the send button, in order to listen to all your changes done before, and you can’t rename presets. Free edition in VST mode allows you to test connectivity only.
Using standard license, in addition to real-time and preset name editing and full VST support, you can store your single sounds in multiple library banks (each with 64 sounds). They get stored in a separate file, compatible wih the original bank dump sysex format. You can import single or bank dump sysex files and send them to your MicroWave. You can send and receive whole sound banks, and have midi thru.
For initial setup have a look at Setup And Connect Your Device.