A Newly Hired Employee Just Showed Me a Permanent Resident Card that Says "Signature Waived" Under the Picture. Is This an Acceptable I-9 Document?

It is now, yes.  The Department of Homeland Security’s immigration division (USCIS) recently announced a change to the list of documents that would be acceptable for completing Section 2 of the Form I-9.  The change originated in a change to the way in which USCIS issues some Permanent Resident cards.  Specifically, in February of 2015 USCIS began issuing cards with a “Signature Waived” stamp below the picture.  The practice has been confirmed and these cards are acceptable List A documents, as they convey both work authority and the employee’s identity.

Here is a picture of the card, provided by USCIS for training purposes.  As an aside - note the name of the person is “Yellow Tulip.” Seemingly even ominous government agencies can show signs of levity.

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