To delete an annotation, first click right on the Annotation
Template window's Type: 
menu button, and select `.
(deleted annotation)', the first entry. Now select the annotation to
be deleted by clicking left or right in the signal window, and click
the middle button to delete it. The annotation is replaced by a `
.' marker, which remains in WAVE's annotation buffer until a
new annotation file is read or until you exit from WAVE. This
feature allows you to locate deleted annotations if necessary (you may
search for them by entering `.' in the Search for field of
the Find window; see
Searching for annotations).
To restore a deleted annotation, simply repeat the operations that you
used to delete it.