Can I use a Waves Sound Grid Server with LiveProfessor?

Yes, but there are a few limitations.
You need a sound grid audio interface to get this working.
You need to get audio to/from the computer and to the sound grid network. The software only, “SG Connect” setup will not work as you get a 74ms delay.
SG Connect will only work in a normal DAW, as a mixing tool, where everything is buffered anyway.
LiveProfessor users have used the DigiGrid MGO/MGB boxes for this.
Another limitation is that you can only run waves plugins on the server.