Not directly, but just after you create your waitbar, like
wb = waitbar(0, 'File Name Will Go Here');
you can
wb.Children(1).Title.Interpreter = 'none';
Nothing in the code changes it back.
Or, you could instead use the Default properties, like
prop = 'DefaultTextInterpreter';
old_interp = get(groot, prop);
set(groot, prop, 'none');
wb = waitbar(0, 'File Name Will Go Here');
set(groot, prop, old_interp)
but I recommend the first version instead.
