After you use the wand recharge skill, you can't choose a wand as your right click skill . I noticed that this goes away if you choose an arrow as your active skill, however. I haven't done much testing beyond that, though.
I have noticed that there's some difficulty activating a wand occassionally, but as I dumped my Wand Lore character pretty quickly (after realising Entropy generation never goes below 5) I didn't investigate it much. *Hint hint* please remove lower limit on entropy generation. =)
It's not so much a bug as an unintended feature. You cannot select a wand as your right click skill because the game thinks you keep trying to use the wand recharge skill on that wand, even when it is on cooldown.
