I'm not surprised it doesn't work - Audition isn't Sound Forgery!
By defaut, Audition uses the Windows standard convention for cut and paste - Ctrl-C and Ctrl-V, but I'm assuming you know that. If you are really desperate though, you can alter the keystrokes in the Keyboard Shortcuts. Why a Windows user would ever want to do this is beyond me, though. If you're a Mac user, then I don't know what happens.
For the selection itself (i.e. what you actually asked about...) it's Ctrl+Shift plus either arrow. It's worth looking at the Keyboard Shortcuts menu anyway - that way you get to see the bewildering array of other editing possibilities!
Thanks for the response, Steve, but I guess I was not clear enough in my question.
I don't have a problem with the cutting and pasting itself, my problem is with selecting the audio I want to cut or copy of delete. I would like to be able to make the selection by holding down the shift key and using the arrow key to move the cursor along the waveform -- exaclty as I can do when I am typing this post or in any Windows document and like I can do in Sound Forge. If Audition does not follow that Window convention, I understand there's not much I can do about it. I just want to make sure that I haven't missed a toggle or something that would turn that functionality on and off.
Like I said, I can do it using in and out points, but that just requires extra keystrokes. Thanks again for the response, though.
As Steve said the default is Ctrl+Shift+L or R arrow, moving the Out point to the left or right. Shift+ arrow keys by default move the In point to the left or right But you can easily swap them round in the Keyboard Shorcuts menu.
Steve and Ryclark, thank you, that does just what I want. Can't understand how I missed it in the shortcuts list. Thanks again.