If you have a 0-10v sine wave and a 5v zener what will the wave look like on the other side. I assumed the top 5 volts would be cut off and you would see flat tops on the scope, but I'm not really seeing that.
On the other side of what? A zener diode is just a two terminal device. What sides are you talking about? What's the source impedance of your signal? How have you connected the zener to the signal source? What are you measuring across? Are you measuring voltage, current, or both?
If you have a low enough impedance 0-10V sine wave, you can connect anything across it, including a 5V zener, and you'll still see a 0-10V sine wave. The current won't be sinusoidal, though, and you might burn up your zener, depending on its ratings.
OTOH, if you have a high impedance signal (perhaps created by connecting a low impedance signal in series with a suitable resistor) you can use a 5V zener, oriented properly, to clip the voltage range to about 5V, according to the voltage/current curve in the data sheet.