I had this problem today, which I finally managed to solve. I thought I’d post here so someone else can find the solution quickly, if they do a search.
The problem was that I lost all sound in Studio. When I went to the Audio setting, I could see DirectSound and my driver selected. However, when I tried to select a different driver, the list of drivers vanished and was replaced my “NoSound Driver”. From that point on, I was unable to select a driver under DirectSound. Selecting ASIO or WASAPI options caused Studio to crash.
All other audio applications on my machine functioned normally. Rebooting my machine had no effect (I figured maybe some other app had locked my card).
I uninstalled all the versions of Studio I could find on my machine. Then I found the “[root]:\Users[windows user]\AppData\Local\FMOD Studio” folder and deleted it. After reinstalling, I could finally select a driver under Direct Sound and now I can hear sound again.
I just did some testing, it appears Studio is not shutting down properly when using ASIO and that appears to cause the list of drivers to go empty. The crash when switching device seems to have come from an instance of convolution reverb. We are trying to track down the issue, in the meantime, we recommend using DirectSound or WASAPI when possible.
We have managed to track down the issues. There was two problems here, one of which is Studio not shutting down properly when ASIO is used and the second appears to be an issue with Studio whenever the ASIO buffer size is set to anything other than 256. Both of these issues have been fixed in our next patch release 1.07.07. In the meantime, we recommend using either WASAPI or DirectSound when possible.