Yep, Wade was Reeves' DC in Denver and again in Atlanta. Wade wanted him here specifically to help Jason with the running game, which was way underused in 2008. (Another counter to this media narrative and fan claim that Garrett has always wanted to run the ball.)
If you missed the time clock, the story going around that day was that Jerry wanted Reeves to punch a time clock and Reeves, being a proven coach and prideful guy, refused. I remember Reeves doing the media rounds the day that broke -- he was devastated -- and he never mentioned a time clock. I've always wondered if the time clock was literally true or more a figurative thing that Jerry had inserted some insulting type conditions in the contract at the last minute.
The weird thing is, Reeves was here for a couple of days before the deal broke down. Something happened at the last second to sabotage it. I still think either Garrett objected, or Jerry decided it would stunt Jason's development as a playcaller.