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The Magne Traction, or wavy edges you call it is an idea that they brought over from their snowboards its supposed to make more contact points with the snow 7 points on each edge instead of 2 thusfore better edge hold.
Yep. I ride a lib skate banana, which is one of their boards with magnetraction. In my experience it works very well. It doesn't turn ice into pow but you definitely get a better edge hold, particularly in shitty conditions. Its not the most ground breaking innovation ever, but it does work well. And it makes it so you can detune for rails and still get a decent edge. Although in a pipe ski you probably aren't looking to detune for rails generally speaking.