DPSing as a healer

[Normalizer]

No <wait.2> is the correct one. The original poster did explain, the gap between the <wait.2> and the embrace cooldown (which is 3) let you do thing like queue up fairies skill while the macro still active, she will do the skill you want her to, then back to continue the embrace macro. Do note that when your fairies embracing you cannot use her skills, if you set it to <wait.3> there will be no room for you to "queue" up other skills which in turn make the macro rather useless (or harmful).

@Zadoc: You should read up or find some quick guide on macro if you do plan on using them, wrong macro can be harmful xD I don't really understand your question though but here is a quick break down nevertheless:
/focustarget set your current target as focus target
/pac .... stands for pet action, it will command your pet do her skill. /pac "Embrace" <t> will tell your fairies to cast Embrace on your current target for example
<t>, <f>, <1>, <2>... are placeholders in macro, they will be translated to the actual target, with <t> is your current target, <f> is your current focus target, <1> to <8> is the party member at position 1 to 8 on party list, with how it is shorted <1> will be you, <2> and <3> normally your 2 tanks. With that in mind, a /pac "Embrace" <1> will cast embrace on yourself for example. There is also <mo> for mouseover and <tt>for target's target.
<wait.N> with N is a whole number 1, 2, 3, .... let the macro wait N seconds before going to the next like.
/echo outputs something only you can see.