Hydro isolation for foundation cut out (edge, not face)?
Wow, looks like a problem (and one I've never dealt with). But I will venture what I would do:

clean thoroughly with scrub brush and TSP
spray insect poison deeply into each crack and crevice and let everything dry out
seal all cracks and crevices with low-expansion spray foam
paint all with waterproofing mopping sealant (like Redguard)
pack with latex-fortified/modified mortar and smooth trowel level, around each window, till it looks nice like a clean cement frame
prime and paint