one possible cause for this behavior is that you have selected the checkbox "Re-evaluate Rule Conditions After Wait" on the Wait action. If so, then when the wait period ends the record is reread and re-evaluated against the condition on the workflow rule. If the rule condition is not met (because the record has been changed during the wait period), the remaining actions on the rule are not performed.
Otherwise I would propose to open Service Request at Oracle.
for the integration event to be generated you need to modify one of the tracked fields. These changes are not detected if there is a wait action before the create integartion event action and this is why the integration event if is not generated. As a general best practice is reccomended to have any PRE function evaluation or integration event generation before any wait action.