Have you checked this release note from Waves?
It was announced at the NAMM show too.
It is an interface card for MY-slot connected to a PC via Ethernet. The PC will be a dedicated server for plugins.
At this time, I don't have so much detailed information yet. But When it is released, your Yamaha digital console may have the latest Waves plugins inserted.
I'm very excited with this product because I have been told about plugins at our classes many times and this is going to be a realistic solution for them, finally.
What do you think?