I took a look at one of my OG Waves, and I think your problem is that one of your outer tool lockbars is bending inward, and preventing the plier heads from fully seating in the closed position. Either the lock bar is bent out of shape, or there is something on an outer-tool blade that is pushing it too far in when fully closed. Like you modified an outer tool, or it has something on it pressing into the lock tab, or the little bump stop pin on the outer tool blade is riding up underneath the lock tab, pressing it into the body of the tool. From the look of it, the saw blade side.