I alos set output encoding to 'none': no joy
You'll also want to turn off bitstreaming. Then set Output Format > Channels > 2 . Output Format > Mixing > JRSS Mixing . That will get you a 2 channel downmixed output.
On the other hand, if you're listening to a track/album that was originally 2 channel, then taking the 5.1 channel mix and converting it to 2 channel is kind of a waste. Because the 5.1 channel mix is "made up" by the engineer; it wasn't actually recorded that way. The down mix will be some strange approximation. I've experimented with this with at least one well respected SACD and the MC JRSS down mixed version, from the 5.1 channel DSD mix, was kinda weird. The 2 channel mix (original file) is better when you only have a 2 channel DAC/sound system.
Brian.