just read the forum:
If you're having issues with "wait for device" or if RATC is looping, try this Unplug your USB Cable Go to Settings > Applications > Development Uncheck USB Debugging Plug in your USB Cable Unplug your USB Cable Check USB Debugging Plug in your USB Cable
do this while the program is running and looping, and then worked for me
I can confirm this defo works. I shut the program down..restarted it...then followed the above proceedure.
Well done to the OP..great find!!!