Hello,
It's normal to see some moisture build up between the scion and the grafting tape. If the bud/leaves do not appear to be able to push thru the grafting tape, you can carefully snip and remove the tape to allow the leaves to push out. This is a judgement call, post some pictures of the growth below the grafting tape if you think it needs some help. The forum members will be able to provide additional guidance. The paraffin grafting tape is fine to use for wrapping scions - I still use it myself. I also use another product called Buddy Tape. This product is a bit more expensive than most grafting tapes. It's a lot more flexible, stretchable and easier to use. For scion wrapping, I start at the tip of the scion, stretch the grafting tape, wrap a little (pulling the tape snuggly around the scion, and repeat (stretch, wrap, pull) until the scion is completely wrapped. I only do one layer with a little over-lap on the edges (the grafting tape - both paraffin and Buddy Tape) will stick to itself. There are you-tube videos that show this method. You want to make sure that you have solid contact between the scion and the rootstock. For me, I will double or triple wrap the joint to make sure a solid contact is maintained at the scion and rootstock. Note: both the paraffin grafting tape and Buddy tape will breakdown over time. No need to remove them.
Tony