Is automatic switching of audio stereo balance while cutting between camera angles possible? I'm about to introduce video in my podcast. There will be one main camera angle that show all the hosts as well as one angle for each of us. We are using individual microphones to be able to stereo separate us according to we're seated in the different angles.

All in all we will have three audio tracks (one for each of us) and four camera angles available in Adobe Premiere Pro 6. We would like to define a separate stereo balance between the three tracks to each of the different angles and have it automatically switching when we change the camera angle.
Is it possible?  Sure, just setup each source clip as a sequence that has the audio feed you want for that shot and leave the tracks linked so that you cut between both video and audio.  

Is it advisable?  Probably not.  People are far less used to changing of the audio scene they are watching.  Video creates kind of a disconnect between the scene we are seeing and the audio we are hearing and it may be a bit jarring and break continuity to try radically changing the audio image every time you make a cut.

Go ahead and try it, I may be incorrect on how it will come off since I have not personally tried it, but in my experience with both video and audio, it doesn't seem like it will work well.