I have an older Panasonic TC P50ST30 (release review/specs here) that was generously given to be by another Arsian that does have ARC support (I think). The TV sitting in front of an old but nicer ...
I actually experienced the exact same issue with my Windows 8 install on an ASRock CoreHT 252B Mini PC, which acts as my HTPC. Probably the same or similar as you, I'm outputting both video and audio ...