So I updated my Apple TV to iOS 4.4 (aka iOS 5) the other day and immediately ran into a problem. All of my movies/TV shows that had a Dolby Digital audio track were playing with the audio out of sync by about 1/2 second. The 2.0 channel audio played perfectly, and these same files played correctly just a few hours before. I also tried using AirPlay to send the videos to the Apple TV with the same results. Oddly enough, when I went to Netflix and played Psych (has a Dolby Digital audio track) it played perfectly in-sync.
After some troubleshooting and trying various random things, including 2 full resets, I finally tracked down the problem. If the screen-saver type is set to Random then the digital audio tracks play with a 1/2 second delay. If I pick a specific screen saver, everything plays correctly. So for now I have selected a specific screen-saver instead of letting it randomly pick one.
One more random bug in Appleās latest updates.