1. A Pulse Wave by a character that is soaring. Normally a grounded character can fire and hit in all directions including a quarter of their range to soaring characters. My question is mainly that if you PW a soaring character while soaring can you affect a grounded character within a quarter of your range since it says in all directions?

2. I couldn't remember, if a Giant was in Hindering did you have to give them the defense bonus?

Nope. Soaring figures can only draw lines of fire to other soaring figures (DC Icons rulebook page 22: Ranged Combat: Soaring [first sentence]).

Yes. (DC Icons rulebook page 31, Giant characters [last paragraph, in the middle.])

hope this helps...