eamonnshute, I think bigtim coined the name. Here's my attempt at a definition.
One of a community of investors marked by a tendency to partisan support of Wave Systems. Characteristics of the community include a tendency to view the glass as half full even when there are only dregs left, a willingness to gaze into the future at potential returns but a reluctance to discuss risks, that subjects posters with natural worries as whiners and moaners, that can survive on thin gruel for years, that stays collectively silent when something unsettling occurs, that is unusually susceptible to rhetoric, that spends little time attempting to view Wave from an alternate perspective lest it unsettle a current hypothesis, that believes "keeping the faith" is a reasonable way to invest money and that stayed silent for years while the Chairman sold his stock, that still believes Hitachi is about to deploy KidCard, that thinks the fault is never with Wave or EMBASSY but with Wave's partners who inexplicably cannot sell the product, and ...possibly... one of a group that will prove to have been right in the end.
That's a start. And eamonnshute, not everyone who invests in Wave is a Wavoid, in case you were thinking of saying you are not.