I there is no inserting or deleting the actual tracks, there's always 128 of 'em, but you can move the waveblocks to different tracks, the ability to move the tracks around was in the older version (1.2a?), and had been removed in the 2.0 release, then added back in the 2.1 update due to user requests.
I'm pretty sure that everybody who purchased the 2.0 release was entitled to the 2.1 update, as well as Adobe Audition 1.0 (just about the same as CEP 2.1), when the program was sold to Adobe.