They didn't format the patch notes correctly. If you look at the page's code, you'll see the tags they screwed up on.
It should be:

/action Swiftcast <wait.1>
/action Raise

You can stick <wait.X> after a command on the same line to make it wait X seconds before going on to the next line. Decimals aren't supposed to work.

And 1 was always assumed. "/wait" is "/wait 1" and <wait> is <wait.1>.