I don't think a whole lot of people here (including me) use traktion. But, I think I might be able to help. If it's saying wave device, then it sounds like its trying to maybe use WDM drivers. Is there an option to switch the driver type to ASIO, because I've heard that in some programs, WDM will only operate in 2 channel stereo. Try to find where you can switch to ASIO drivers, Presonus makes good ASIO drivers, so you would be fine there.