Can a Bishop wave or over rule Canon Law?
Yes, Bishops are subject to canon law.
Can. 392 §1. Since he must protect the unity of the universal Church, a bishop is bound to promote the common discipline of the whole Church and therefore to urge the observance of all ecclesiastical laws.
That being said, canon law has built into it situations where a bishop may dispense and where he may not.
Can. 85 A dispensation, that is, the relaxation of a merely ecclesiastical law in a particular case, can be granted, within the limits of their competence, by those who have executive power, and by those who either explicitly or implicitly have the power of dispensing, whether by virtue of the law itself or by lawful delegation.
Can. 86 In so far as laws define those elements which are essentially constitutive of institutes or of juridical acts, they are not subject to dispensation.
Can. 87 §1 Whenever he judges that it contributes to their spiritual welfare, the diocesan Bishop can dispense the faithful from disciplinary laws, both universal laws and those particular laws made by the supreme ecclesiastical authority for his territory or his subjects. He cannot dispense from procedural laws or from penal laws, nor from those whose dispensation is specially reserved to the Apostolic See or to some other authority.
Whether a bishop has authority to dispense someone or a group from a canon depends on the canon in question.