Wax bloom is a white haze that appears on colored pencil drawings, especially when heavily worked, as a layer of the wax medium rises to the surface. It tends to appear once the work has been sitting for a week or two. To prevent wax bloom, give the drawing a couple of layers of fixative. You may need to wipe off any existing bloom first, if the drawing has taken some time to do.
To remove wax bloom, wipe the surface gently with wad of cotton wool, checking frequently to ensure that you are not moving any pigment. A tissue also works, though can be slightly abraisive.