the name of the signal explains this.
waitrequest .... request to wait !
if this is set to 1 then a master must obey this and wait until it is released.
a master starts the transfer and sets the signals and a slave can assert waitrequest if the slave is not able to finish the transfer with this clock cycle. if the slave ha done his job (after ??? cycles) then he releases waitrequest to signal the master the transfer is finished.
so as long as waitrequest is set to 1 a slave is not ready and data is not valid or computed.
but it should go to 0 or it would be an infinite wait. as master who receives a wait is stalled.