There are no demo limits in relation to wave files. If you have recorded audio in an arrangement, it will be contained in sound objects that are placed under the arrangement object. You can use a List window to locate these sounds. The sound properties dialog will show the wave file it is linked to. If there is no file name, then Podium will create a filename for it when you select the ‘save all’ menu command.
The file management is something I plan to work on for the Podium 1.28 release. Along with an extension to the guide that explains this better.