Since the firmware update, I can use HDMI now (CEC, ARC) on my Vizio P75 and don't have any audio problems at all.
Before it would lock up when you powered off the TV so I had to fall back on optical only but HDMI seems to cure the problems. I also get the sound coming on quicker with HDMI than I did with optical and occasionally I would switch inputs and have no sound until I switched inputs and came back one more time - again, this does not happen with HDMI.
So not really a fix for the optical but if you have the choice, might be worth exploring the HDMI only route. I disconnected my optical or it seems to over ride which cable gets to run the audio.