Rob is correct – any editing done and saved in Audition’s “Waveform” view is destructive and does overwrite the source audio file. Work in Multitrack view just references media files, and doesn’t change bits on disk.
When you use the “Edit Clip in Adobe Audition” command from Premiere Pro, Premiere performs a Render and Replace operation, generating a new WAV file on disk, relinking the clip in the Sequence timeline, then sending that new file to Audition. When you save a change in Audition, the file on disk is changed, and the clip is updated when returning to Premiere.
Your original source media is not changed, however. The Render-and-Replace operation makes sure you’re only working with a copy. If you choose “Edit Original” and Audition is defined as the default application for that file format, then you may be overwriting the original asset, but that’s a more defined workflow. IF an audio file was created by Audition, as the result of a mixdown of a multitrack session, then Edit Original will give you the option of opening the raw audio file or the mutlitrack session that created it.
Hope that helps!
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Durin Gleaves
Adobe Audition