In Audition 1.5, there's a built-in M/S decode option -- no need to manually copy tracks, invert phase, etc. I'm pretty sure it's in Audition 1.0, as I vaguely recall its presence in CEP. To access: Main menu Effects | Amplify | Channel Mixer, select Mid-Side to LR preset. The New Left/Right Channel's "L" sliders control the level of mid in the mix. The New Left/Right Channel's "R" sliders control the level of side in the mix (positive for L, negative for R).
Alternatively, the Voxengo MSED plugin (and probably the Kelly plugin, too) will work in Audition.