I have 3.7.
This page: http://www.waze.com/wiki/?title=Pick_Up
says "Open the Menu and choose Meet Up:" - I have no "Meet up" on my main menu. (iOS ver 3.7, Facebook integration turned on)
Somewhere on one of the Waze videos I saw one of the menus with options like "Drive together." I can't find that at all...
I would suggest that you go to iOS v3.7 Official Feedback Thread
and check out anyone has this issue. If no one has posted it, then post your questions there. Can't help you much as I'm using Android and logically it should be the same. The link you posted is for version 3.5 and I guess there are lots of changes and the wiki could be in the process of making the changes and haven't gotten to it yet.
After going through the link for "Pickup" and comparing with my Android ver 3.7, to share your drive, click Menu>Send>Then select the method you want to share your drive. (This is for the other party to see you driving to your selected location)
For Pickup, click Menu>Navigate>Pickup>Send Location Address>Select the method you wish to communicate that you wish to drive to that person. (This is for driving to "pickup" the person even though you don't the address) Hope this makes sense.