I've looked at the tool and corresponded with the author. Nice guy and helpful as he could be, but he was similarly hampered by the lack of project file documentation.
As it stands the tool doesn't go far enough to encompass what I'm looking for, and he didn't offer up his source.
If I had access to an RFC document describing the cakewalk project template I could do this myself.
I realize that CbB needs the freedom to change the project structure, but so does Microsoft (I'm thinking of the Office suite) where the file formats are documented allowing other tools (e.g.: Open Office) to read/write these files. Open Source projects are used to chasing this and provide updates as I'm just looking to read.
On the other side of the coin. if it's a feature of Cakewalk there is no need to publish the file structure and the user experience would be seamless across releases.