Ann: Presentation-OBJ.AX, page-107

Thanks Vipers and Smac; so it's confirmed that the Wave II device is powered, which helps to explain its ability to generate the vibration sensation.
Maybe Wave II gives an improvement in the rate of delivery compared to the Eye Wand. If we use the toothbrush as an analogy: manual brushing takes a while to drive in the active ingredients in the toothpaste/cream, whereas combining electric vibration with the magnetic array achieves the desired effect more quickly. In the same way, users of the the various face creams in the SKII and Olay ranges have a much larger area to cover than just the eye, and this would probably take too long with the wand. Enter the wave II device to get the job done before the user's arm suffers from repetitive strain injury.