Ok, I think this may be solved, but not with my previous post.
I found a reference to a beta version of ALchemy (1.43.06) on a Creative forum board.
The link didn't work, but this one does, or should:
http://support.creative.com/downloads/download.aspx?nDownloadId=11802 I now have correct EAX working in game and have at least tested the video in game by launching the introduction and have sound there too.
I hope this helps if people want to go the EAX / ALchemy route and have found no sound in their videos.
This IS a beta though, so I take no responsibility if it doesn't work, and I reckon Creative won't either!