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I'm not any help (and a few years late ) but I have the same problem with Video Studio X2 (V12). I ran across this topic searching for answers.
If you're still around and you figured it out, I'd be happy to hear the solution. I'm using Windows 7 64 bit. I only get the standard audio formats to choose from. The standard audio formats are:
Rename the file "DivX_ul.dll" in the \Program Files\Corel\Corel VideoStudio 12\ directory
to something like "DivX_ul.dll_old"
This should make it so VS12 doesn't see & use it's own Divx file and use the retail Divx codec instead.
Perhaps I misread the OP's question. I have a problem with the audio options showing up. I can't output mp3 audio although I have an mp3 encoder installed. According to Sherlock, I have the following installed (among others not listed for the sake of space):
MP3 Decoder DMO
FileVersion = 6.1.7600.16385 (win7_rtm.090713-1255)
CompanyName = Microsoft Corporation
FileDescription = Microsoft MP3 Decoder DMO
InternalName = mp3dmod.dll
LegalCopyright = © Microsoft Corporation. All rights reserved.
OriginalFileName = mp3dmod.dll
ProductName = Microsoft® Windows® Operating System
ProductVersion = 6.1.7600.16385
FileVersion = 1, 9, 0, 0401
CompanyName = Fraunhofer Institut Integrierte Schaltungen IIS
FileDescription = MPEG Layer-3 Audio Codec for MSACM
InternalName = l3codec.acm
LegalCopyright = Copyright © 1996-1999 Fraunhofer Institut Integrierte Schaltungen IIS
OriginalFileName = l3codec.acm.mui
ProductName = MPEG Layer-3 Audio Codec for MSACM
ProductVersion = 1, 0, 0, 0
If this is now considered a hijack, move it at will.44E
Grinder, I have no such DivX files in the Corel directory. I have no problem converting to DivX, I just can't get mp3 audio with it.
The only DivX files I found in my entire C drive are Corel installed profiles, such as DivX Handheld, DivX Home Theater, etc.44E