HDMI is more than a port on the back of a TV (and the often expensive cable that fits inside). It's a set of rules for allowing high-definition electronic devices to communicate.
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I would guess any software like AudioSwitcher is converting the sound to analogue, altering the volume, and then if needed converting the sound back to digital to send over the HDMI, and then the AV Receiver (or TV) will have to convert it back to analogue again. As you can imagine thi...