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1. Warm the milk in a small saucepan until it bubbles, then remove from heat to cool. In a small bowl, dissolve yeast in warm water. Let stand until creamy, about 10 minutes.
2. In a large bowl combine salt, sugar, cinnamon and flours. Mix thoroughly. Then add milk, yeast mixture, butter, and olive oil and mix thoroughly with rotary or electric mixer until batter is smooth. Cover with plastic wrap and let stand at room temperature for 1 hour and then refridgerate overnight.
3. The next morning, stir beaten eggs, chocolate chips, nuts, vanilla, flaxseed (if using), and baking soda (sprinkle it evenly over top) into the batter; mix well.
4. Grease a preheated waffle iron. Pour mix onto hot waffle iron (about 1/3 cup batter per waffle). Cook until nice and golden brown.
Note: Some recipes suggest leaving the batter out overnight, which may result in a more optimal texture but there is a food safety risk associated with this method. Use this method at your own risk.