Yes –
Play around with the Reduce By factor – it will vary the strength of the removal, better preserving the bits you want left in – here’s what it said in the help file:
Reduce By Determines the amplitude reduction of detected noise. Values between 6 and 30 dB work well. To reduce bubbly artifacts, enter lower values.
Joe Bourke
Owner/Creative Director
Bourke Media
http://www.bourkemedia.com