The chief issue with wax over sealant is that most waxes lasts only a short time compared to almost any sealant. Colinite is one of the longer lasting "waxes", up to 6 months). You will lose most of the wax "layer" in a few weeks, particularly in hot weather. Most sealants last months. I use wax over a sealant when I want short term added protection (like a trip to Florida during love-bug season). You will find a number of good sealants in the product review database section of this site.
A fair number of us, even the ones who don't like or use their sealants, agree that Zaino's Z-2, Z-5, Z-CS provide the most lasting protection. And, putting sealant back on over wax doesn't work well, so unless you stay with Colinite, you will have to do a good cleanup before applying any sealant application to remove any residual wax.
Here's a thread from May of 2006:
http://autopia.org/forum/detailing-product-discussion/71411-colinite-replacement-polly.html
Here's what one detailer wrote from that thread: "If im not mistaken Collinite waxes are more like "resins" I have used Collinite IW845 for a while. Its my favorite go to "wax" when I need something that is very easy to apply/remove and has VERY GOOD durability without having to apply the Zaino..."
Good luck. Let the forum know what you decide, and please post you results.
And yes, I'm a Zaino-holic.