Let me try again: As far as the computer is concerned, THE ENTIRE SCREEN IS GRAPHICS.
Text can be rendered in many different ways. WaitReady monitors a set of windows messages and waits for them to cease being sent for a time. The 1 simply tells it to monitor paint events. This has nothing specifically to do with graphics. Paint events will get sent when text is written to the screen and when a pixel turns red.
What you are asking about detecting graphics is non sensical since graphics exist at all times anyway.
You seem to misunderstand what WaitReady does and seem to have some fanciful ideal about graphics. Please read the WaitReady help topic which says NOTHING about graphics.
http://www.mjtnet.com/manual/?waitready.htm
The 1 simply tells it to include wm_paint events in its monitoring. These messages get sent whenever the screen changes. Doesn't matter what the screen looks like to you and me - text or blobs - it still gets "painted".
The reason the inclusion of paint messages in WaitReady is optional is that some apps never cease painting, and continually update their region. So to include paint events would hold things up indefinitely. Like I said, suck it and see. Trial and error. Find out what works for your specific situation. Whether the app shows text or pictures of trees, it makes no difference and is not enough to tell us whether it keeps painting or not.
Please read the manual.
We've now gone horribly off topic, so can we end there please.