In AZ Controller you can create/duplicate/modify any control. But that is not strait forward, you will need to learn hot to proceed (see documentation, as a "quick tip": use duplicate button in the Options for some transport button, rename it there, assign appropriate MIDI in Hardware tab and change executed Command in the Logic tab).
Master volume in Cakewalk is historically not stereo by default. So till you lock channels, controlling the first channel doesn't change the second one, and so its slider stay in place and there is "panning" effect.