Don't know about HydroWave, however some years back an older Party Boat Captain told us that "Perch are nosey! And they're attracted to all kinds of things down there." Some people rev up the engines and the fish will turn on. Others lowered a metal rod with a smaller metal rod attached to make a clanging noise. I recall one guy that used to put live Shiners in a clear glass jar filled with water and a few holes punched into the lid. He kept a thin line tied to it and then lowered it over the side letting it go down to the bottom.
Did it really attract the Perch? I can't say for certain, as we had a lot of people on board the party boats then. I've always wondered what might happen if someone would try this on a smaller boat?