Thanks for telling me. I'll have to dig through the settings and find it.
It's not in the settings, it's the "draft" tick box at the bottom of the textbox.
That "draft" tick box has been grayed out for me since I got into Wave.
It's amazing they enabled it as default.
I don't think the 'Draft' functionality works as yet. But from my experience using Wave, that'll definitely be something I will keep enabled for all business-related waves.