From the OnKey's online help.
Wait Optional Variant. True to have Microsoft Excel wait for the keys to be processed before returning control to the macro. False (or omitted) to continue running the macro without waiting for the keys to be processed.
AppActivate:
wait Optional. Boolean value specifying whether the calling application has the focus before activating another. If False (default), the specified application is immediately activated, even if the calling application does not have the focus. If True, the calling application waits until it has the focus, then activates the specified application.
HTH
Cal