if you press wax paper to your fabric you will get a residue---that may or may not wash out- and may or may not change the color/hand of the fabric- i've been using freezer paper in my sewing room for 45 years---i would never allow waxed paper in my sewing room- i let the granddaughter's press leaves between sheets of wax paper- i do not want it any where near my fabrics.
i don't even see how it would work- it does not stick to the fabric like freezer paper does- it sticks to itself..
just my 2 cents