I've never come across this problem in the 8 years I've used audtion!
It won't let me edit more than one track at a time, when I try to upload a second track the warning comes to say it has reached it's limit and I need to update cache settings. I thought initially it was because the first track was 2+ hours long but even with shorter tracks (20 - 45 minutes) the same problem keeps happening
I have mutliple times but it keeps giving the same warning, has anyone else come across this? I'm not sure how to update/clear out old data any other way
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Try reducing the number of Undos the system allows - possibly by quite a lot; that's generally what takes up a phenomenal amount of room, especially with large files.