I'm not quite sure I understand what the deal is with that radio station, or what you want to do with a particular track or stream, so let me respond with a couple of questions.
1. Do you want to save or record an audio stream on the internet with your Mac? (iPhone/iPad/iPod require a different approach.)
2. Do you want to edit a saved audio stream/track?
If 1, you could use an audio recording utility like
Audio Hijack Pro or
WireTap Studio*.
If 2, you'd need an audio editor like
Amadeus Pro,
TwistedWave or
Audacity (freeware).
There are various alternatives in both categories, but I'm limiting myself here to utilities I use(d).
*) Wiretap Pro has some editing functions that may be sufficient for your needs under item 2.
