My own take on all this...
Ban wave will come, eventually. The original banwave that has been speculated here is just that, a speculation. Blizz won't let this program exist forever though, so there is no doubt a banwave will happen at some point.
Also, about all the ToS/Eula...when you click accept on both, you are agreeing to play the game by Blizzards rules. Obviously people don't, because hacks exist, but in the same way...if a GM catches you, you will get banned for not playing the game by blizzard's standards.