LP360 can read LAS files with waveform data, as long as the files are LAS v1.3 or v1.4. LP360 cannot manipulate the waveform itself and has no tools at this time to make use of the waveform information. However, LP360 can manipulate the discrete points that were generated from the wave. For example, modifying the class or classification flags using one of the manual classification tools or Point Cloud Tasks. Using the Export Wizard to create new LAS v1.3 or v1.4 files will create good files, but the waveform will not be included.
If you have a special application where you must be able to do processing directly on the waveform data, then I would suggest TerraScan from Terrasolid, www.terrasolid.com. See What’s New in Terrasolid – Feb 2011.
If point data are sufficient (and you do not need to preserve the waveform components), LP360 provides both interactive and automated data classification.