I found the problem myself, it seems that Wavemon definately wants to see something in the COLORTERM env variable.
I have Knoppix installed on the harddrive of my IBM Thinkpad 390E laptop. Everything runs quite nicely, including my wireless NIC except for one tiny problem.
Every time I try to invoke Wavemon I only get a Segmentation Fault.
I've fiddled with all of the settings I can think of (I'm using this installation to learn how to configure wireless networks in Linux) with no change in Wavemon results.
The strangest thing is that Wavemon seems to work fine when I'm running Knoppix from a CD (or even when I boot from CD to a HDD image).
Hardware is an IBM 390E laptop and a NetGear 511 wireless-g card.
Has anyone experienced/debugged this problem?
I found the problem myself, it seems that Wavemon definately wants to see something in the COLORTERM env variable.
Correction, it was the terminal size.
Wavemon wants 80x24
Perhaps some error message would be usefull.
Dell PowerEdge R630 Server 2x E5-2680 V4 = 28 Cores S130 32GB RAM NEW 480GB SSD
$197.99
Dell PowerEdge R630 Server 2x E5-2640v3 2.60Ghz 16-Core 64GB H330
$182.65
Dell Poweredge R630 Server 2x E5-2620 V4 =16 Cores | S130 | 32GB RAM | 2x trays
$159.99
Dell PowerEdge R720xd 26HDD 300gb 2.5-inch E5-2697 X 2CPU 384RAM 7.2 Tb HDD 
$180.00
Dell Poweredge R730xd LFF 14-Bay 2U Server | Choose Your CPU & RAM Config
$489.99
Dell PowerEdge R720 Server - 2x8c CPU,256Gb RAM, 120Gb SSD/3x900Gb SAS, Proxmox
$340.00
$60.00
Dell PowerEdge R330 Intel Xeon E3-1220 v5 3.0GHz 8GB PC4 Ram w/Raid Card Server
$149.99
DELL R630 Server 2x E5-2680v3 2.5GHz =24 Cores 32GB H730 4x 1.2TB SAS 4xRJ45
$306.00
Dell Poweredge R730xd 3.5 2x E5-2690 v3 2.6ghz 64gb H730 14x Trays 2x 1100w
$489.99