I guess I will add my voice to this. It is affecting me today.
Waze is version 126.96.36.199
Google Search version 188.8.131.526027
Device is the Nexus 4 (from Google) running Android 4.2.2
If I click the map (on the card within Google Now) and select to open with Waze, Waze will not receive/find the location correctly. In my case this results in a list being presented with a single suggestion that has not title or anything and the list item just says "11717.8 miles Away". Considering I am trying to navigate all of 5 miles to my hairdresser, this is vastly inaccurate. Also, if I click anything other than "back" then the entire app hangs and will not close. I can go home, but I cannot shutdown the waze service; even using the little button in the notification area (only on 4.1+ or something like that).
Strangely, with the same appointment that creates the card in google now; if I try to open a map of the location from the Google Calendar app (instead of Google Now) it works fine (albeit presenting me with a list of similar sounding locations, but at least in the correct vicinity and one of the items was the correct destination). So this is the **same appointment** with the **same data** from the cloud being displayed in 2 apps. In one app (Google Calendar) it works fine with waze, in the other app (Google Now) it doesn't. This points to an issue with Google, but since individual consumers have no chance of reaching google, we have to come bug Waze instead.