Yes, waxworms should work nicely for Calosoma, pre-killed crickets and mealworms work good too, (they kinda suck at catching fast moving prey from what I've heard).
Orin McMonigle wrote a short section on breeding these in his book, "The Ultimate Guide to Keeping Beetles", his adults laid eggs in a 70 gallon tank that had a lot of leaf litter on top of the substrate and a clean up crew of orange Porcellio isopods in it, the larvae were really weak and fed on isopods and pre-killed crickets, he was able to rear some to adulthood but the amount he reared was fewer than the number of adults he started with.
Found
this old thread on Arachnoboards, apparently the guy thought he had gotten larvae from his Pasimachus but they ended up being Calosoma. Unfortunately no one has ever found a way to repeatedly breed these in captivity, and I'm not sure anyone even knows the exact impetus for oviposition.