I found this in the Oppo-95 manual:
Coaxial/Optical Output: To set the output format for the coaxial/optical digital audio output for use with Dolby Digital and DTS-compatible receivers. The options are:
LPCM – Forces down-mixed 2-channel digital audio output. Choose this setting if your receiver/amplifier only supports stereo digital (PCM) audio.
Bitstream – Passes audio as compressed bitstream format to the receiver/amplifier. Choose this if your receiver/amplifier can decode Dolby Digital and/or DTS.
LPCM Rate Limit: To set the maximum Linear PCM output frequency for the Coaxial/Optical digital output. This menu item is intended to ensure that the audio output is compatible with equipment that cannot support high sample rates. It sets an upper limit to decide whether the player shall down-sample audio. The player does not up-sample audio to higher sample rates. The options are:
48K – Supported by most equipment.
96K – Allows a higher sampling rate and frequency response. It can result in better audio
quality. Ensure that the receiver/amplifier can support it.
192K (default) – Allows the highest sampling rate and frequency response. It can result in the best audio quality. However, please ensure your receiver/amplifier can support it.
The “Advanced” setting configures audio output to send the original main audio content to a connected receiver for decoding and reproducing. It requires a receiver capable of decoding all high bit rate audio
formats. If you connect the player to a receiver supporting HDMI 1.3 or higher version and high bit rate audio formats, selecting the “Advanced” setting is recommended. Menu click sound and Secondary Audio Program are turned off by default.
NOTE: As I stated above, it might work but please call Oppo to confirm. I do not know. The above information should get you started on getting an answer. Maybe someone else can answer the question about the Oppo-95 digital output options bypassing the internal DAC.
Coaxial/Optical Output: To set the output format for the coaxial/optical digital audio output for use with Dolby Digital and DTS-compatible receivers. The options are:
LPCM – Forces down-mixed 2-channel digital audio output. Choose this setting if your receiver/amplifier only supports stereo digital (PCM) audio.
Bitstream – Passes audio as compressed bitstream format to the receiver/amplifier. Choose this if your receiver/amplifier can decode Dolby Digital and/or DTS.
LPCM Rate Limit: To set the maximum Linear PCM output frequency for the Coaxial/Optical digital output. This menu item is intended to ensure that the audio output is compatible with equipment that cannot support high sample rates. It sets an upper limit to decide whether the player shall down-sample audio. The player does not up-sample audio to higher sample rates. The options are:
48K – Supported by most equipment.
96K – Allows a higher sampling rate and frequency response. It can result in better audio
quality. Ensure that the receiver/amplifier can support it.
192K (default) – Allows the highest sampling rate and frequency response. It can result in the best audio quality. However, please ensure your receiver/amplifier can support it.
The “Advanced” setting configures audio output to send the original main audio content to a connected receiver for decoding and reproducing. It requires a receiver capable of decoding all high bit rate audio
formats. If you connect the player to a receiver supporting HDMI 1.3 or higher version and high bit rate audio formats, selecting the “Advanced” setting is recommended. Menu click sound and Secondary Audio Program are turned off by default.
NOTE: As I stated above, it might work but please call Oppo to confirm. I do not know. The above information should get you started on getting an answer. Maybe someone else can answer the question about the Oppo-95 digital output options bypassing the internal DAC.