To change the codec for a Channel in TS5, Right Click it, select Edit → Audio Codec and select the preferred coded from the drop down menu
In TS3 you need to Right Click the Channel → Edit Channel → Audio → and select the Codec from the drop down menu
If you cannot select them or they do not appear like on the pictures below, you will have to get in contact with your Hoster as they have limited your Permissions so that you cannot change the codec.
