Um, whenever i try to close cooledit pro, it goes to not responding and it's really annoying, is there a way to fix it, or should i just reinstall it?

upgrade your computer
then upgrade your software.
There is no such thing as cool edit pro, adobe software took it over, and now it is Adobe Audition, the latest release is 2.0, dang your behind. haha
nah i would reinstall pehaps get some more ram, and seriously think about buying something new.