Did you check which is the default sound device in Windows? A similar combination works fine for me with Windows 7. I have Gigabyte H55 board with an i3-530 and I connect two displays, one via HDMI, and one via analog VGA. The default sound device is analog output on my board. I had to manually set it to use the HDMI as the default in the control panel. Hope this helps.
Yes I did check the sound device.
I got already an answer. Two digital displays and digital sound is just not possible. Clarkdale (eg i3-530) can only handle two digital processes. For example 2 digital monitors (HDMI & DVI-D) or one digital monitor (HDMI) and digital sound (via HDMI).
With two digital monitors there may be sound possible with a second sound chip (Realtek). With an analog monitor (VGA) I also get digital sound via HDMI.
Dual display with HDMI audio is possible just a major pain as HDMI is a total POS.
Basically you need to give up on using 2 connectors another reason is that the movie industry doesn't want you to watch it on 2 monitors so people like PowerDVD will not let you watch Blu-ray video on 2 screens.
The solution, You need 1-3 HDMI EDID storage devices I use gefen DVI Detective connect one to the PC's POS HDMI connector, then run that to a splitter, you may need 2 more detectives on the each output of the splitter. Now both screens get Bluray video and POS HDMI audio.
One issue you need to remember is that both get whatever you programmed into the detective so if the screen can't do DTS for example but you send it to the screen you won't hear anything...