- What version of sound forge are you using?
- What about the Waves plugins? 3.0 or 3.5? (3.0 gave me a lot of trouble at my day job - would vanish from the Soundforge plugin list, or never show up to begin with, dongle/auth problems too)
- What happens when you press the preview button?
The waves DX and VST wrappers have always been rather poorly implemented - I've done plenty of uninstalls and reinstalls over the years, on all versions of the platforms (mac, pc, Protools, DX/VST), though in latest version, this hasn't been as much the case.
This is probably a call for Waves tech support. since it seems unlikely that you are doing something wrong - the plugin is :>