Hi,
Very good recommendation to CL, about WaveEditor, but I think you're expecting a lot of WE. WE is an addition to a video editing program. It is not a professional audio editing software.
WaveEditor is designed to set "core " (and a little more in just two channels) the audio of the videos and not to be a professional audio editing software.
WE have the minimum and indispensable for it.
There are many other programs and also much more sophisticated multitrack audio editing and do not think that is the current target of CL, at least for now. No one of CL video editing software Can Manage That 2 more channels. Dolby 5.1 in PD are simulated.
If you want to do wonders with audio, use programs like Sony Sound Forge, Cakewalk, Pro Audio or, but you will need other programs to add it to your videos.
Honesty above all else.