I'm trying to play and edit a wav file and the volume and phasing is messed up.
This is the first time trying to edit with Audition CC. I've tried several files but they
don't play back properly.
The audio bounces from one side to the other.
I was going to ask a ton of questions about your setup but perhaps the best thing would be if you could post a sample of one of the problem files--use something that offers downloading the file like box.net rather than just a streaming site.
It would also be useful to know what operating system you're on (Windows or Mac OS) and what you're using for a sound interface.