It seems to me that measuring the length of chains is inherently problematic, in the sense that the variations are very small indeed. Weighting the end(s) must be a required part of any protocol, I'd have thought.
In the specific case of waxed chains, whilst I don't know whether this is the case, it does seem entirely possible that the solid wax inside the rollers could mask actual metal wear; and after all, this is the entire point of waxing the chain, to get solid wax inside it so that the movement is wax-on-wax, not metal-on-metal. i.e. if the metal has worn, it seems possible that more wax will go in and the external length of the chain will remain the same, only now that length consists of more wax and less metal (the 'bulking out' mentioned above).
To counter that perceived (by me) issue, I've been removing the wax using a boiling water bath and much swishing prior to measurement, but I'd rather not, so if someone can plausibly assert that that is not the case I'd appreciate it. For measurement, I then hang the chain from one end with a consistent mass on the lower end, and I'm measuring the change from a reference measurement when the chain was new, but stripped of factory grease.
If the internal wax, after each new application, can 'mask' wear, as measured by chain elongation, then the corollary question is whether it matters for practical purposes.
a) What matters in terms of not wearing the chain rings and cassette sprockets is that the length of each link is unchanged, and the wax content may fix that, so that if re-waxing is frequent the chain will not elongate and thus not wear the other components.
b) Even so, the metal content of the chain may be being reduced over time, which would be not a good thing from the perspective of potential chain breakage.
Point b) is why I'm measuring with the wax removed (to the extent that I can do so).