The Olay device is 100% a "wave I device" and was included as part of the 200,000 delivery.
I can only assume it is a white wand with similar/identical specs as the Eye Cream wand (plus probably a white color), but it is certainly not a whole face applicator or a multi-product device..
Who knows what Olay product it will be incorporated with, but with the soft launch a couple years ago, the wand was introduced approx 4-6 weeks after the initial unveiling/launch of the cream.
So if the Olay Eyes line was launched in July 2016, as suggested in article:
Then we may see some activity on wand promotion 4-6 weeks after the Olay products hit the shelves, which would be about 4 weeks away from now. (speculation)
Another aspect to take into consideration is the license agreement hasn't been officially executed yet, so P&G wouldn't be able to market/advertise it as one of their items immediately, but as we are anticipating execution to occur within the week, we should see advertising and upramping of the wand and the associated benefits.