I have to say that no Vulcan was a real disappointment but I can see the CAA's point of view. If they had given a waiver to XH558 and it had pancaked into the crowd not only would they have been vilified, a lot of people could have been killed and an irreplaceable airframe would have been destroyed; I dread to think of what the insurance liabilities would have been if they flew on a waiver and then had a serious accident
She's been flying on a 'waiver' for the past year. The CAA gave them a years dispensation with regard to the testing to be done on XM603.
Obviously that didn't happen and the CAA haven't renewed the permit to fly. In reality though, she's no more unsafe now than when she arrived on Thursday.