There is an argument to the cms function on the page that you can pass to disable the live edit.
If you add ", true" to the WA_getCMSContent() function it will not show as live edit enabled.
Another hidden feature is that you can then add:
<?php echo($GLOBALS['WAPCMS_HIDDEN']); ?>
somewhere on the page to show a list of all of the cms content that has in context editing disabled in this way in order to provide edit links in another location.