The no HDMI audio is a bug.
They didn't add the correct modules in to the kernel for some types of HDMI audio support. ( https://bugs.launchpad.net/ubuntu/+s...x/+bug/1169761 & https://bugs.launchpad.net/ubuntu/+s...x/+bug/1169984 )
Workaround / Fix is to install a new kernel:
http://kernel.ubuntu.com/~kernel-ppa...v3.8.8-raring/
This kernel works for me. HDMI is now in the list of available devices and I have sound.
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