Right. Trimming action will NOT create a new wave file.
 
However, "Bounce to clips" will.
 
So if you want to create a wav file for each new clip, you have to bounce it first. The reason is because when you "split" or "cut" a clip, you are actually copying or duplicating the entire clip. For this reason there are no additional wav files because they are all the same file, just repeated on the track.
 
To see this for yourself, grab and slip the end of a split clip and you will see the original hidden wave forms reappear. They only become "individualized" when you bounce them.
 
1) Split your clip into several parts.
2) Bounce each part separately.
 
You will now have individual wav files for each part in the Audio folder.
 
They will be numbered sequentially:
Song1, Track1, Mix(1) - original unbounced clip
Song1, Track1, Mix(2) - 1st bounced clip
Song1, Track1, Mix(3) - 2nd bounced clip
 
Now "slip" either end of the new clips and there will be no additional wave forms. Bounced clips cannot be restored to their original size unless you use the "undo" function.

Thanks, all. I learned something here.
 
If you have a tom track (drum hit seldom) and you split it so that only the 10 seconds during the song is the track playing, it would seem to reason that there would be an easy way to get all five 2 second clips bounced without having to select and bounce to clips 5 times. Just me.

If you bounce several clips on one track at the same time they will become one clip - one wav file.
 
The only way I know of bouncing several clips individually at the same time is if they are on separate tracks.
 
Steve

I believe if you hit edit/special. there are split options to add cross fades, split at silences,  EXC.
 
 
http://www.cakewalk.com/Documentation/default.aspx?Doc=SONAR%20X2&Lang=EN&Req=Dialogs2.108.html