I think there might be a bit of confusion here with pellet wagglers and splash wagglers.
Pellet wagglers are just straight wagglers, often self-cocking, in the region of .2gram up to .8gram. No really designed for the noise effect. More for distance. Not really bouyant enough to create a bolt effect. A strike is still required.
Splash wagglers are the thick ones, some like pike pencil floats, others like 2 halfs of an egg on a stem, which close together on the cast for distance and then open to create a float and a sheild for the bolt effect and some like the pike pencils with a concave bottom to make a 'pop' or 'gloop' sound and again, increase the bolt effect.
Bagging or baggum wagglers, again, are basically pike pencil floats with a light method feeder cage on the bottom. These make a fairly big noise but don't really create much of a bolt effect.
A standard pellet waggler...
A splash waggler...
Bagging or 'baggum' waggler