This notation, e.g. "5.1", reflects the number of full range channels; including a ".1" to reflect the limited range of the LFE channel.
E.g. 2 basic stereo speakers with no LFE channel = 2.05 full-range channels + 1 LFE channel = 5.1
It can also be expressed as the number of full-range channels in front of the listener, separated by a slash from the number of full-range channels beside or behind the listener, separated by a decimal point from the number of limited-range LFE channels.
E.g. 3 front channels + 2 side channels + an LFE channel = 3/2.1
This notation can then be expanded to include the notation of Matrix Decoders. Dolby Digital EX, for example, has a sixth full-range channel incorporated into the two rear channels with a matrix. This would be expressed:
3 front channels + 2 rear channels + 3 channels reproduced in the rear in total + 1 LFE channel = 3/2:3.1
Note: The term stereo, although popularised in reference to two channel audio, can also be properly used to refer to surround sound, as it strictly means "solid" sound. However this is no longer a common usage and "stereo sound" is almost exclusively used to describe two channel left and right sound.
