I haven't really been following this thread, well I have but not actually reading it, but I did today finally and had a couple of ideas, I've recently got into confectionery as a way of making low carb treats, but found I really love the mix of science and food, sorry for the ramble.
BUAS when you made the chocolate without parrafin wax and it didn't really work, did you temper the chocolate?
I'm fairly sure (from my limited but growing knowledge of confectionery, Etsy shop on the horizon maybe?!
) that the paraffin wax is acting to make the chocolate glossy and stay solid at room temp but by tempering the chocolate you'll get the same (possibly better) result.
When you heat chocolate crystals in the butter break loose and rise to the surface, when the chocolate cools you don't get that crisp, snap, but the texture is crumbly, possibly why you're p'butter balls didn't taste right.
On the other hand, properly tempered chocolate will be creamy, glossy and firm enough to hold up well to coating the pb balls.
Otherwise, you can use vegetable shortening instead of paraffin wax, it needs to be the solid kind. It's used in a lot of confectionery as an alternative to paraffin wax OR you can buy Couveture which is this :
http://en.wikipedia.org/wiki/Couverture_chocolate chocolate with a high cocoa butter %.
Hope that helps!