Thanks RoninEdits. Interesting. I have every item listed in my menu (as the image shows in the link you shared) EXCEPT the "audio plug-in manager" as you can see in my menu shown above.
This is really odd. Any ideas why I wouldn't be seeing the audio plug-in manager in my menu? It looks like that is the key to this for me.
PS, thanks for your very fast response to my question.
i think the audio plugin manager was something new added, but i dont remember when. as im looking thru older threads at cs5, they make it sound as if premiere will just load and use what it can. when an effect doesn't show up, its usually cause premiere determined it couldn't use it. if you have the 64-bit version of premiere and 64-bit audio plugins, they should work, unless premiere has some issue with them. i think waves uses vst3 and AU (audio units)? while vst2 should work in cs5, im not sure if vst3 or au are supported until cs7. so im at a loss, unless someone else knows better. if you have access to audition, you can try to load them in there to use.