Display your sound device's mixer directly from within Audition 2 or 3

Options>Windows Recording Mixer normally displays the Windows  recording mixer application. If you feel confident about editing the  relevant system file, you can change this to display whatever mixer  application is provided for your particular soundcard as follows:-

Exit Audition.

In Windows, navigate to C:\Documents and Settings\{username}\Application Data\Adobe\Audition\2.0 (or 3.0) and make a backup copy of audition_settings.xml in case you make a mistake.

Now edit that file with a text editor such as notepad, find the string sndvol32 /r and change it to the full path and filename of the program which  provides the mixer for your soundcard. On my particular system, for  example, it is

C:\Program Files\Echo Digital Audio\Console3\console3.exe

- note that yours is likely to be different, of course...

Save  the file, close the text editor, run Audition and check for correct  operation. If there is a problem, either correct it or restore the  backup copy you made of the audition_settings.xml file.

Thanks to "PQ" on the AudioMasters site for pointing out this tweak.