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Thankyou kindly Grazie! This appears to be the ticket!I've downloaded the collection of scripts via the site you referenced and what a list! I assume that some of these are outdated/redundant now? That said, there are quite a few scripts there I have moved into my Vegas script folder as they’re great short cuts to completing more time consuming tasks (e.g “Normalize”, which normalizes audio for an entire track!).I have tested the 'Recreate Audio Events' from the collection (which is the script I assume you pasted above) and it appears do exactly what I want.For those who want to learn a little more about installing and using scripts here's a good video by Scott Eggleston.
Restoring the audio portion of a video track - Creative COW's VEGAS Pro user support and discussion forum is a great resource for Vegas users wishing to learn more about Vegas without all the noise. VEGAS Pro Forum.