Hey man,
So I did some testing with this, and while it works in the editor - with a standalone build I get the following error:
[2015.11.16-02.16.28:700][208]LogAudio:Error: Attempt to access the DDC when there is none available on sound 'SoundWave /Script/Engine.SoundWave:SoundWave_0', format = OGG. Should have been cooked.
[2015.11.16-02.16.28:700][208]LogXAudio2:Warning: Failed to create audio buffer for 'SoundWave /Script/Engine.SoundWave:SoundWave_0'
If anyone can spot the problem here, it would be greatly appreciated.