I think that's the issue here, both Yanny and Laurel are potentially encoded in a wave file but the listener can only perceive one at a time when observation and decoherence occurs. Depending on the listeners ability to perceive certain frequencies the recording will default to and become entangled with only one of the names.

The controversy here is that two people in the same room listening to the same recording can potentially be listening to different tracks, hearing different names and even viewing different waveforms when the wave file is graphed. Do you see the issue here, two people side by side each experiencing a different physical reality?

Now I suppose I may have taken theorycraft too far here and the recordings of two names were mixed together in a single wave file and both are present when the waveform is graphed. The issue is that when two recordings are mixed they sound mixed and you can hear both names not just one or the other.