(edit) Is this the full quote?
"Why we have not closed deals - I can only believe it's due to risk management/ career preservation, fear and the lack of real benefit for taking the risk of being first in deploying this very new solution...."
with this additional qualifier: "Happy to discuss - but as you know - there is generally a difference to what is said vs what is posted, with missing context and balancing comments being a major factor."
It's not obvious he is saying all the same things that you are saying:
"What he means:
a) the solution itself is risky; ie it may not provide a significant or sufficient improvent in the level of security
b) the implementation of the solution is risky; ie, the software is kludgy, buggy, difficult to use, easy for users to experience problems
c) the company is risky; ie Wave may not be around to support the product...
d) there is a "lack of real benefit" - the product actually doesn't do much, and doesn't provide any benefit over what you could buy from a more mature, stable, proven, reputable company."
The closest you come is with C. He's clearly talking about internal perception issues amongst purchasers. They are worried about looking foolish by being early adopters.