I power cycled the DAC, and I did see the display change to 96 (or 48 for audio fed from my Tivo). I didn't power cycle the blu-ray player, but I can try it. The DAC is sitting on one shelf of my rack all by itself, so I don't think it'd be a heat issue.
I can try the other TOSLINK device I have, an Apple TV. I only have one TOSLINK cable. I don't remember where I got the cable, but it's a no name cable. I'd been using it with my previous DAC (MHDT Paradisea+) without any issue. I didn't really try much hirez audio with my old DAC, though.
Maybe I'll order a new TOSLINK cable. Do you have any recommendations?
I didn't let the distorted audio play for very long, so when I get home I'll try letting go longer.
I can also try USB, although I use a Mac running OS X 10.10.3, so it sounds like there might be issues. I do have an older Macbook Pro I could try. Can't recall what OS it has, but I haven't updated that one in a while.