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jjd-uk
Changing it to analog seems to fix the video issues for these types of files (sounds better than unchecking AC3, I think). When I first made the change I disabled the HDMI audio on the receiver as you suggested, but that meant the WASAPI HDMI disappeared so I couldn't select that. But yes, analog with WASAPI HDMI works. I had to set the speaker set up to 2.0, as the others didn't work.
That being said, while this gets the videos to play (with audio!), it's not as good as it should be (not 5.1). I think I'm gonna set up a separate profile with these settings changed already to facilitate switching back and forth when I have to. Not really an ideal situation, but it's probably the best I can do for now. It would be nice if there were some kind of more permanent solution, such as fixing something within the receiver. It is a fairly popular receiver, but I got it like five years old. Maybe get a new one in a couple of months.
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bluray
The videos play fine on VLC regardless of the system. It's only behind the AVR on the Windows 8.1 HTPC using XBMC that I'm having an issue.
Trust me when I tell you that I have had the latest Intel drivers. I have had all kinds of problems with them and Windows 8.1 (you can check the intel support forums for the lengthy bitching from people about them). It was just recently that I got HDMI audio working at all on with Windows 8.1 (thanks to bios updates and realizing that the audio sometimes won't work when the computer is turned on after the tv and receiver).