Zaikesman,
It is possible that such "intermodulation products" in the audible band may affect the perception of sound. As of right now, it is only "accepted" that the presence of ultrasonic content in combination with low frequency (i.e. conventional audio band) content induces activation of alpha EEG rhythms in the occipital region, which rhythms are not present when playing low frequency content alone. (See, e.g., Oohashi et al, Non-Audible High-Frequency Sounds Affect Brain Activity: Hypersonic Effect, J. Neurophysiology Vol. 83, No.6). The mechanism for this is still being studied. However, some of the research being done now with the profoundly deaf is pointing to the conclusion that these in-band effects to which you are referring are not the cause (or the sole cause) of perception of such ultrasonic information.
It is possible that such "intermodulation products" in the audible band may affect the perception of sound. As of right now, it is only "accepted" that the presence of ultrasonic content in combination with low frequency (i.e. conventional audio band) content induces activation of alpha EEG rhythms in the occipital region, which rhythms are not present when playing low frequency content alone. (See, e.g., Oohashi et al, Non-Audible High-Frequency Sounds Affect Brain Activity: Hypersonic Effect, J. Neurophysiology Vol. 83, No.6). The mechanism for this is still being studied. However, some of the research being done now with the profoundly deaf is pointing to the conclusion that these in-band effects to which you are referring are not the cause (or the sole cause) of perception of such ultrasonic information.