not sure if I've posted in this particular thread or not, but the envelope ampilfy works great for this. I start at 100%, drop relatively quickly to 60% (usually) carry a flat 60% across the bottom of the envelope and then sharply back up to 100%, spline the curves (asymtotic). This gets a natural sounding 40% reduction in the applause. I have also combined this in a "reverse fashion" by amplifying quiet music using the envelope amplify function going from 100% up to 160%, then again back to 100 sharply. Combining these 2 has really worked well for me for a nice sounding recording of quiet music that was "enthusiastically appreciated" by the audience.
here's a screen shot of the applause lowering envelope, note the basis is 100% at the top, so the envelope goes lower than that below the top
and here's the 160% amplify upward. Note that the basis is 200% at the top and 100% in the middle, so the envelope amplifies when above the center
Of course, it goes without saying that the flat section in the middle where we are slope=0% should be "played with" until it sounds best to you. I use the 40% down and 60% up as what works for me and as sort of a maximum, above and below which I can really hear the amplification
and, of course, save your unedited files.