Definitely – I’ve done that.
(Going from memory here – feel free to ask for clarification if needed.) You should be able to drag another audio asset down into the timeline and have it add a second audio track. Then, in your menus, you can create buttons that select the sound track you want played. You do this by creating a link to the specific audio track. There;s a number of approaches to this.
You could have a “Play Movie in Surround” button that links to the movie timeline and selects the audio track with the surround sound file on it. Select the button, and in the properties window, click the little arrow-head button next to the Link entry. In the popup that appears, select the Specify Link option. This gives you a window to select not only the entity to link to (in this example, the timeline) but also the audio track to play.
Note that the audio track is now changes FOR THE PROJECT, not just the timeline. So, when you select Audio Track 2 in this manor, that audio track is now the default for playing all timelines in the project until it’s changed by a new selection again.
Second example: You create a submenu for Audio Setup, with a button to select stereo, and a button to select surround sound. When you select one of the two options, you want it to go back to the main menu. Have each button link to the main menu, with one selecting audio track 1, the other selecting audio track 2. Even though menus only have one audio track, this selects the default audio track to play for all timelines. If a timeline doesn’t have an audio track 2, audio track 1 will play be default.
Hope that helps!