Wowza delivers the video streams based on chunks and it is not using progressive download method to buffer, seek, etc.,
If you want an option with seeking forward, backward, play, pause you should configure Wowza NDVR application. Wowza NDVR allows you to do all the operations
Here is the Wowza NDVR documentation : http://www.wowza.com/resources/WowzanDVRAddOn_UsersGuide-3.5.0.pdf