That's strange, i've only got the Jappy version here, and it works fine... bloody hard to play tho - I don't read Jappy.. hehehe
(yes, I have the Eng cart, just can't find the Eng rom)..
Here's the relvant section, just in case something was changed.
[650EFA96-30DDF9A7-C:50]
Good Name=Wave Race 64 (E) [!]
Internal Name=WAVE RACE 64
RDRAM Size=4
Counter Factor=2
Save Type=First Save Type
CPU Type=Recompiler
Self-modifying code Method=Check Memory & cache
Use TLB=No
Linking=Global
Reg Cache=Yes
Use Large Buffer=No
Geometry Pipeline=Internal
Resolution Height=240
Status=Compatible
[5C9191D6-B30AC306-C:4A]
Good Name=Wave Race 64 (J) [!]
Internal Name=WAVE RACE 64
RDRAM Size=4
Counter Factor=2
Save Type=First Save Type
CPU Type=Recompiler
Self-modifying code Method=Check Memory & cache
Use TLB=Yes
Linking=Global
Reg Cache=Yes
Use Large Buffer=No
Resolution Height=240
Geometry Pipeline=Internal
Status=Compatible
[7DE11F53-74872F9D-C:45]
Good Name=Wave Race 64 (U) (V1.0) [!]
Internal Name=WAVE RACE 64
RDRAM Size=4
Counter Factor=2
Save Type=First Save Type
CPU Type=Recompiler
Self-modifying code Method=Check Memory & cache
Use TLB=Yes
Linking=Global
Reg Cache=Yes
Use Large Buffer=No
Resolution Height=240
Geometry Pipeline=Internal
Status=Compatible
[492F4B61-04E5146A-C:45]
Good Name=Wave Race 64 (U) (V1.1) [!]
Internal Name=WAVE RACE 64
RDRAM Size=4
Counter Factor=2
Save Type=First Save Type
CPU Type=Recompiler
Self-modifying code Method=Check Memory & cache
Use TLB=Yes
Linking=Global
Reg Cache=Yes
Use Large Buffer=No
Resolution Height=240
Geometry Pipeline=Internal
Status=Compatible
[535DF3E2-609789F1-C:4A]
Good Name=Wave Race 64 Shindou Edition (J) (V1.2) [!]
Internal Name=Wave Race 64 SE
RDRAM Size=8
Counter Factor=3
Save Type=First Save Type
CPU Type=Recompiler
Self-modifying code Method=Check Memory & cache
Use TLB=Yes
Linking=Global
Reg Cache=Yes
Use Large Buffer=Yes
Resolution Height=240
Geometry Pipeline=Internal
Status=Compatible
hope it helps??