Yes it is used in waffles. Here's a recipe. Let me know if you want more.
Buttermilk Waffles
16 Waffles
3 cups all-purpose flour
3/4 cup dried powdered buttermilk
3 tablespoons sugar
1 tablespoon baking powder
3/4 teaspoon salt
3 large eggs
3 cups water
6 tablespoons unsalted butter, melted
1 1/2 teaspoons baking soda
Sift together flour, dried powdered buttermilk, sugar, baking powder, baking soda, and salt.
Refrigerate this "from-scratch mix" in plastic storage bags until you’re hungry for waffles. On a waffle morning, whisk eggs in a large bowl until blended, then whisk in water and melted butter.
Whisk dry ingredients into liquid mixture just until smooth. Brush a preheated waffle iron lightly with vegetable oil and spoon batter—about 2 cups for 4 waffles—in iron, spreading quickly.
Cook waffles according to manufacturer’s instructions, transferring as cooked to rack of a preheated 250°F oven to keep warm.
Gourmet, November 2000
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When I get a little money, I buy books. And if there is any left over, I buy food.
- Desiderius Erasmus
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White flour! 
