What evidence do you have for the source of the sound?

The reason I ask because this is the first time I've ever heard of a flemish braid doing this. I've had three piece takedown bows creak when a limb bolt got loose, and my Asiatic bow creaks a little because the string loops scrape across the sides of the sihas but this sound isn't audible much beyond armslength apparently. Consequently, I'm a little puzzled as to how the string is making the sound you describe just by lifting off the face of the recurves. The wax shouldn't be that sticky and even if it is, it should probably make a different sound.

If it is in fact the string loops being overwaxed, then you can rub them with a piece of leather to force the wax into the fibers and perhaps remove some of the excess. You should also probably rub the face of the recurves to remove any excess wax accumulation from them as well.

Whatever's wrong ain't the bow and whatever's right is the archer.