Isn't there supposed to be a way to get the Wave Profiler to work manually?
It is not appearing in my Edit Preferences - instead I have the ASIO button. My MOTU has not been playing nice since the upgrade to X2 from X1.

The wave profiler doesn’t profile asio drivers you will have to switch to one of the other driver modes.

sometimes after the upgrade your prferences change a little bit, be sure to eyeball those settings and make sure nothing has changed or set to something different, you might want to look at your audio interface as well, sometimes we grab it to move it or something and a knob gets moved, direct input,exc.

you say not playing nice ?
that's really not much info, we are basically just grabbing at straws here,
a little more info helps, a lot of info solves your problem, that my friend is totally up to you.