The final event of the UK Swing had seen four hours lost to a waterlogged course on day one, with 59 players having to return to complete their rounds on Friday morning.
Waring's effort moved him to seven under after 36 holes and he had a share of top spot as South African Walters made a bogey in the very early stages of his second round.
Waring is playing his first event since the coronavirus hiatus after suffering with a back problem but he showed no sign of injury or rust in the English Midlands.
Armitage went birdie-bogey as he finished the final two holes of his first round 70 but quickly made a move up the leaderobard in round two, picking up shots on the first, third and tenth.
A bogey followed on the 11th but he hit back with gains on the 15th and 17th in a 68 to set the early target.
Jordan had a roller coaster final four holes of his first round in the morning as he made three birdies and a bogey in a 69.
In round two, he made further birdies on the third, fifth, eighth and tenth, with a bogey on the ninth, and when the 24-year-old picked up another shot on the 13th, he was the first man within one of Walters.
Back to back bogeys followed but a two putt gain on the par five 11th had him back within two.
Waring was another who completed his first round in the morning, with a double bogey on the last cancelling out two birdies in his final six holes in a 70.
He soon shook that off, however, and birdies on the third, fourth and ninth sent him up the leaderboard.
Approaches to three and six feet on the 13th and 15th meant he was the closest challenger, and a bogey from Walters on the second made it a tie at the top.
Vincent had moved to seven under with birdies on the third and fourth but he gave those shots back on the fifth and sixth before making a 25 footer on the seventh.
Wiesberger made a single birdie in his first three holes to sit a shot ahead of American Julian Suri, who carded a 71.