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Hi! I just sent this message to Support, but perhaps someone here knows the answer.

Please help!!

Hello! I bought a MiniDSP Flex late last year. This is my 5th MiiDSP, I have thhe 2x4 Balanced, the 2x4HD and the 2x8. I love this platform. 

With the Flex, I have TOSLink, SPDIF and analogue sources to it. Outputs 1 and 2 go to my speakers, outputs 3 and 4 to the subs. 

 A couple of weeks ago I finally started usingit. I also bought the Dirac license. Thats when the problems started. I was asked to update the MiniDSP Flex. I did, and it failed. I received a DSP ERROR! message which I solved by installing the firmwarea again and refreshing the DSP program. So far, so good. 

Yesterday, I noticed the volume level of the MiniDSP out of the blue was incredibly low. I figured Id fix it today. So I turned everything off - and I got no sound I

flashed the firmware again, to 1.54 (I was on .53) and I got sound at a very low volume from both subs and speakers. I checked my slots and everything was fine, I remembered I had to refresh the DSP program - and i lost all sound. It used to be that when rebooting the unit I had 2 or 3 seconds of sound at a low level. Now i dont even get that. Not even the slight click when changing slots. My miniDSP is completely silent now.

I have tried to reinstall the firmware, the DSP program, everything. Nothing works - I get no sound. Which is weird, since I can see the signal at the inputs and outputs while monitorig them. I am in Firmware 1.54 and DSP version 1.6..

I have 2 Flex (DL) TRS units with 1.54/1.6 fw running Device Console 1.0 from a Macbook Pro. One of the units have the similar problems as you describe, no sound. I choose stby from the remote/power off completely, power on, restart, nothing helps. miniDSP support is on the case.  After 2-3 weeks emailing them, they tell me to refresh fw+reset all filters, problem is still not solved. However 1 of 10 times there is sound.
BTW, the other unit all is well.
 

This is exactly what's going in with mine. I already refreshed everything. No luck. But I did notice that sometimes I'll get sound, although at a much much lower level. Then I'll lose it completely.

I've seen a post where going back to 1.21 solved their issues. I'll try that later during the week. I won't miss the console, it was slow and weird.

Going back to 1.21 didnt work (actually  I used 1.23). I reset the unit according to page 78 on the manual with the reset button and sound seems to have come back. I don't know about the volume level. I'll try that tomorrow and see what happens.

I think I found my issue.

When I reset the unit, I did so at my workbench, with a big 12V power supply. And the miniDSP worked correctly.

When I took the MiniDSP bacik to my setup, I got no sound again. So I knew it was my setup or something. 

After unplugging everything, nothing was working. So I changed the only thing left. The wall wart.

Voilá. Instant sound at the right volume level again!

I'm now using the regulated power supply from my workbench. I'll keep you posted in case this fixes things. I see many people have the no sound recurring problem. Perhaps we only need a bigger or beefier power supply.

Confirmed. My power supply went bad. Changing it for a beefier one solved my sound issue. I hope this helps someone else. It seems many people are having these issues. Perhaps the Flex requires more power than the wall wart can provide.