recording on audition from internet live conference call

Difficult to get Audition to do that. The best solution to this is generally to use an app like SoundTap*, which does all the awkward internal routing for you, and use that to record. The problem is tapping into the stream, which Windows won't let you do. You need to use something like Virtual Audio Cable to do that, and it's pain to set up, which is why programs like SoundTap are a better idea; they do the awkward bit of the connecting for you. You should be able to monitor what's going on quite normally on your speakers at the same time.

*Other software is available - this is just the one I use!