System information
Item Description
Import  stereo as dual 
mono
When this check box is selected, two-channel  audio files will be 
opened as separate mono audio events on separate tracks:
The audio events are grouped, and tracks that  are created by adding 
media will be panned hard left and hard right. You  can select an 
event and choose Edit >  Channels to choose which channel  is used 
for that event.
You can use this feature when working with two-channel  source 
media that contains two distinct audio channels, such as an interview
  in which channel 1 contains the interviewer's voice and channel 2 
contains   the subject's voice. 
When the check box is cleared, two-channel audio  files will be 
opened as a stereo pair on a single track:
For more information, see "Audio Channels" on page 177.
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