Sorry to say but you may be out of luck...I've been looking for a CoolEdit (what Adobe Audition was called before Adobe bought it) or Audacity (open source audio editor) equivelant for OS/2 for years. I've yet to find something that I like, and as a result I keep boot manager and Windows on a separate partition for the purpose of multi-track audio editing.
The most complete package out there for OS/2 is Ceres SoundStudio, although this product has been discontinued. There are still demo copies floating around FTP sites though (I think it is even still on Hobbes). Although the last time I tried it, I found it to be confusing and buggy - I gave up on it.
At one point Audiostation was being developped, but I havn't seen any updates to it in quite a while.
http://groups.yahoo.com/group/audiostation/
Any one else have any thoughts?