Hello!

I had the same problem but then I disabled ffdshow from shogun.exe and shogunM.exe and it works now!!! (Thanks to yuo guys, would not have suspected codec myself)

Here is how it is done:

# Go to the ffdshow folder.
# Click "Audio decoder configuration."
# In the left hand pane, click "Info & debug." This is the second entry in the list.
# In the right hand pane, near the bottom, find a check box labelled "Don't use ffdshow in:"
# Check that box, and in the text box underneath (it lights up when you check the check box), add "shogun.exe;ShogunM.exe" (don't include the quotes). If there is already something in that box, put a semi-colon ( ; ) after what's already there, and shogun.exe;ShogunM.exe after that. Do NOT use spaces, since ffdshow will think that's part of the filename. A valid entry would be "explorer.exe;shogun.exe;ShogunM.exe" (without quotes).
# Finally, click "Ok" and start Shogun.