It has been reproduced by Cyberlink on 9/23, but no news of any fix since.
Test case :
1) download the project from my google drive at
https://drive.google.com/file/d/0B1eSSO_7gwqeUFZBUzFQSFJUeFk/view?usp=sharing
2) unzip it in its own directory
3) ignore profile.ini in the zip file
4) start PowerDirector 14
5) open the "trim" project
6) click produce
7) click H264
8) click MP4
9) click "default" under profile type
10) select MPEG-4 640 x 480/30p (6 Mbps) . This profile uses AAC 128 kbps audio
11) make sure Fast video rendering technology is disabled
12) click ... to call the file aac128.mp4
14) click start to render
14) play the aac128.mp4 file, in any media player you want.
It will sound like bad AM radio, or a scratchy LP .
15) create a new H264/MP4 profile with the + icon, and set AAC audio bit rate to 384 kbps
16) click ... to call the new file aac384.mp4
17) repeat rendering
18) play the aac384.mp4 rendered file. it still sounds horrible, even though maybe not quite as much as aac128
19) click m2ts
20) click ... and call the next file dd256.m2ts
21) repeat rendering with H264/M2TS/default/ AVC 720 x 480/60i (8 Mbps) . This profile uses Dolby Digital 256 kbps
22) play dd256.m2ts . It sounds good, very close to the original clip.
23) create a new H264/M2TS profile with the + icon, and set D audio bit rate to 1284 kbps
24) click ... to call the new file dd128.m2ts
25) repeat rendering
26) play dd128.m2ts . It still sounds better than even aac384.mp4 .
I think when DD 128 kbps sounds better than AAC 384 kbps, there is something wrong with your AAC encoder.
27) just for kicks, click the musical notes in the produce window, and select "MP4 audio" to generate an audio file
28) select profile 192 kbps
29) click ... to call the new file aac192.m4a
30 click start to rener
31) play aac192.m4a . It sounds better to my ears than aac384.mp4 .
But still not as good as dd256.m2ts
32) repeat steps 28-31 to generate aac384.m4a .
This file still sounds better than aac384.mp4, though still not as good as dd256.mp4 .
I have encoded plenty of music before with AAC and never gotten any results of this kind.
I think there must be some bug in the AAC encoder you are using.
At 384 kbps, it should sound very close to the audio in the original PCM clip.
To make things easier, I have also stored all the renderings I talked about in this test case at :
https://drive.google.com/file/d/0B1eSSO_7gwqeeTdIdXhGTE0xNlk/view?usp=sharing MSI X99A Raider
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