Actually what I'm trying to do is reverse reverb - where you reverse a small portion (~1 second), then apply a long decay reverb to that portion, then reverse the portion back to normal.
Now, with your suggestions, option 1 is the only way to do this.
I am able to select the portion and reverse it, but then, when I attempt to apply the effect to the selected portion, it doesnt apply. I've tried 3 different reverbs, it allows me to "Audition" to hear what it WOULD sound like, but it never edits the audio. I am using the demo version of SONAR, is this why?