I have a list of products on my site, and each product has a number of descriptors such as features, price, etc. Next to each product, I list the 10 features, with a graphical icon which lets the user know whether the product has that particular feature or not. In all, I have about 230 products, and I have to add the same list of features to describe each product, so you can see the enormous redundancy here of these "feature names". These "feature names", ex., "water proof", are not important keywords at all, yet due to the sheer volume of these words, Google is seeing them as my most important keywords. Is there any way to get around this, or to tell the bots to place (less) emphasis on these repetitive words, and not view them as important keywords?
Do not worry about it too much. This happens and is perfectly normal. Google is trying to understand what you page is about. If you use a keyword a lot but not too much, it becomes important. If it wasn't, it should not be on the page!
Your example for waterproof is a great one. It should be there before you think that your customers want to know that something is waterproof. Now your page is about a product not about waterproof and you tell crawlers that by placing more importance to other parts of the page. For example, the name of a product would be in a heading (h1 or h2) and more important aspects can be bold or italicized. The only way to make a word unimportant is not to use it but what you really want it to make other parts more important. Placing those in the title of your page or URL also helps.