what exactly are you wanting?
if you want to change how music you have already sounds, you would want an equalizer. it looks like that program you have is just an equalizer with some ambiance settings.. most soundcard software suites have similar and even virtual surround built into them and doesnt rely on a gimicky interface.
if you want to create your own music or remix existing music into new music then a program like audacity or other music mixing/making program would work.