I think quantizing is only for midi. You need AudioSnap to do the same sort of thing with audio tracks. Unfortunately, I don't think AudioSnap is included in the LE versions of SONAR. From what I saw of it in YouTube tutorials, it seems quite complicated to learn and use anyway, so maybe it's not what you're looking for.
It's fairly easy to fix timing mistakes manually though. Just highlight the section you want to move, then drag it with the Free Edit tool. If you zoom-in the display, you can position the clip very accurately. Of course, if you have
lots of timing mistakes, this could be a very tedious process. But for fixing just a few timing mistakes, it's quite easy.
You can also fix timing errors with the Nudge feature. Just select the note or phrase you want to align, split it with the Split tool (or Free Edit tool followed by 'S'), then press the appropriate keys to nudge it in the desired direction. See the following page:
http://editthis.info/sonar/Nudge_Tutorial