When I first heard of sonoluminescence years ago, about the first thought in my mind was that this phenomenon may be useful to generate an environment necessary for fusion to take place. So, obviously much research involving this must have occured in past years, and all fruitless too, or you wouldn't read what was in the article at the link below.
http://www.sciencenews.org/articles/20050305/fob1.asp

---Al