I'm not sure if you are having the same issue that I was having, but I'll offer what helped me to get the S/PDIF transmitter working. In my situation, the S/PDIF bitstream being transmitted by the DSP looked valid and the receiving devices receive clock would lock with it, but I could not hear any audio output. I set SCR = $000434 which changes the validity control bit. After setting this bit, the S/PDIF output can be heard through the receiving device. I hope this helps.