Is there a way of changing the audio buffer size in version 2.0.5? Or do I have to change the latency?
See http://manual.audacityteam.org/o/man/recording_preferences.html . The “Latency correction” setting is for adjusting “recording latency” so the recording is laid down in the correct place respective to other tracks.
If you are trying to listen to yourself while recording overdubs, you will have “playthrough latency” before you hear yourself unless you can unmute the input source on the playback side of your sound card, or record using an external device that has a headphones jack. See http://manual.audacityteam.org/o/man/tutorial_recording_multi_track_overdubs.html . The “Audio to buffer” setting in Audacity won’t help you with this because it does not adjust the latency of Audacity’s software playthrough.
Gale