Yes, a netlist is just a list of nodes and what is connected to each of them. It is only a connection list, it holds no representation of the schematic or logic diagram layout.
Back annotation is the process of automatically going through a netlist and updating it when a change has been made to the schematic. For example, if you renumbered gates/components or added/removed something, the back annotation would update the netist to reflect the new parts and their connections.
I would guess that 'wait' is a function rather than a physical attribute so it would not have connections and therefore has no place in a netlist.
Brian.