Waveburner does not embed any codes or text into the audio files. The ISRC code, UPC Code CD Text etc. is purely for the CD Burning process.
There are applications that can embed additional text information into the headers of the audio files. For example, Sample Manager from Audiofile-Engineering can embed an entire customizable list of "properties" into the sound file.
It is important to note though that most applications will not be able to read or even see the additional text data. Sample Manager and Sound Miner would, And in the case of a few of the properties, Like Album and Artist for example, iTunes will see the data. But Waveburner will not.
It may also be worth mentionioning here that the CD text you embed will not be seen by iTunes without the help of a 3rd party plug-in that specifically imports CD Text into iTunes prior to importing the Disc. I use this.
hope that helps.