I've always heard it pronounced war-ez. Like the Mexican city.
Actually, you should bounce all midi to audio. Just look at Alchemy, one of the sure bits of software (I thought). I use it on every project, just about. It looks like it will continue to open, but only on old PC OS's. If you want a project to be valid, every synth (even externals) needs to be converted to audio. Otherwise, there is no guarantee you can open a synth in the future. If you can't open the audio, you have even bigger problems.
@