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When the radio has an internal failure it can get stuck on the wait screen also. I have radios never come off of the wait screen. If you disconnected the battery or lost power one day and that caused the code or wait screen, it is possible a voltage spike damaged the radio unit. I suggest getting a radio off of eBay since a new one will be significantly more expensive.
Not without replacement. The 2 wait modes are suppose to last 15 minutes or a couple of hours of ignition on time. If it hasn't come off of wait in a few weeks, it never will.
Ok, that is good news that it said code. Your radio just needs the correct code. You will have to remove the radio and read the serial number off of the bottom side of the radio. The code starts with the letters AL. In order to remove the radio you will need a set of radio keys to slide into the bottom corners and then the radio will release and slide out. You can buy Mercedes radio keys on Amazon or eBay. Once you get the serial number, just post the number here and I'll get you the correct code.
Alright, just post the serial number on here when you get it.