Okay, I found out the problem. I recently upgraded Matrox Utility drivers and for whatever reason, the Audio/Video Out settings in Encore got changed. Under Preferences, Audio/Video Out, then under Video Out, Audio Device: I actually have to pick the "Adobe Desktop Audio" option (not the Matrox player option) to hear the audio on my PC speakers. However, under Video Device: the Matrox Player is checked, for playback to my external monitor. Case is solved.
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