The Soundblaster Live card does not support what is called "8X Interleave" mode, which is what ADAT/Edit uses for multitrack recording.You will need to go into your WINDOWS REGISTRY to change a setting. This only needs to be done once, but be careful! An incorrect setting may negatively affect your computer's performance! Follow these directions exactly!
 1. Go to START / RUN.
 2. Type in REGEDIT.
 3. Click the + sign next to HKEY_LOCAL_MACHINE.
 4. Click the + sign next to SOFTWARE.
 5. Click the + sign next to Emagic.
 6. Click the + sign next to PAD32.
 7. Click the + sign next to Wave Out.
 8. Highlight SOUNDBLASTER LIVE.
 9. On the right side of the screen, double-click INTERLEAVE.
10. Change the "8" to "2".
11. Click OK
12. Close REGEDIT.