This came up when I was playing and I thought Pulse Wave ignored the effects but my opponent argued it didn't so here goes. If I Pulse Wave Master Mold with Black Bolt and inflict 4 damage does the Pulse Wave activate the Retribution Virus. Here's what Retribution Virus says:
It's a Trait by the Way:
"mark each character that causes Master Mold to take 2 or more damage from a single attack. At the beginning of your turn, Master Mold deals 1 penetrating damage to the marked characters and each other opposing character adjacent to them, then remove the mark. Each character can't be dealt more than 1 damage per turn by this power."
Now I figured it wouldn't activate but he says it doesn't have to as long as the guy hurts Master Mold by 2 or more it doesn't matter how.
What's the ruling?

At the time the trait would trigger to place the mark, it is being ignored by Pulse Wave, so it will not place the mark.

What he said.