Beepster
That used to confuse me to. Double clicking on a wave opened the loop constructor which looks like a handy place to do basic editing... but alas it most certainly is not. ;-)
But it SHOULD be. IMHO, this is still a shortcoming of Sonar. It cries out for a better wave editor. I'm not saying a full-blown one, but a better one.
Yeah, you can connect to something like SoundForge, and yeah, you can do some edits in Track mode, but it could be more like Logic's Wave editor.