I don't see how the direct output can work with that post processor to be honest. The DIRECT_OUTPUT line which controls the interface to the Shark control panel is set to "" where I would expect some parameters in there according to the post processor documentation.
DIRECT_OUTPUT = "Display Name | Manufacturers.Document" The control software uses a document interface that can directly accept the NC file output.
As far as I can see from the New Wave documentation it should be:
DIRECT_OUTPUT = "CNCShark|CNCShark_run.ini"