The PanHandler for Cool Edit Pro Description:

The PanHandler for Cool
Edit Pro. Imagine surround sound panning and encoding for your
projects! After installing the PanHandler, you'll be able to precisely
control the positioning and movement of the sound elements in any of
your audio tracks. Give your video, film, and multimedia titles the
professional touch you've been looking for. Gunshots, airplanes,
missiles, automobiles, animals, all heard in motion with astonishing
clarity and realism. Place background sounds like running water or
insects in the rear channel to really give your audience the feeling of
being there.