Positions men take up in Waterloo and Austerlitz? (6,8)
I believe the answer is:
battle stations
'positions men take up' is the definition.
(positions taken by soldiers)
'waterloo and austerlitz?' is the wordplay.
'waterloo' becomes 'stations' (I can't justify this - if you can you should give a lot more credence to this answer).
'and' is a charade indicator (letters next to each other).
'austerlitz?' becomes 'battle' (austerlitz is a kind of battle).
'stations' after 'battle' is 'BATTLE STATIONS'.
'in' is the link.
(Another definition for battle stations that I've seen is " Positions taken by soldiers".)