Hm, you're right, LoadSoundEffect() is listed in the API documentation included with Sphere 1.5. I guess I just didn't implement it because I never found a v1 game that used it. Good to know, I'll add it to my to-do list.
As for Audialis: Mixers not having an "isPlaying" function is by design. The mixer is never "not producing sound" - in effect, it's like a pipeline. It's just that sometimes it's "producing" silence (when you haven't fed it any sounds to play lately). So there's no way to determine whether it's currently active or not because it's always active.
As for why you're not getting any sound, sound.play() (without any parameters) doesn't do what you think it does (admittedly, the wording here is somewhat ambiguous, I'll see if I can improve it):
Sound#play([mixer]);
Begins or resumes sound playback. When called with no `mixer` argument,
Sound#play() will resume playback for a paused sound. Otherwise, the sound
is started from the beginning on the specified mixer.
If you don't provide a mixer, it's just a command to "unpause" - and if you've never played it before, the engine doesn't know what mixer to play it on. You must explicitly specify a mixer. Note that a default CD-quality mixer is provided for your convenience, so you don't always have to create one manually:
var sound = new Sound('sounds/test.wav');
sound.play(Mixer.Default);