BTW, Kudos to Cave Man for figuring out the main part of the Blu-Ray to AppleTV process, as referenced in the tread below:
https://forums.macrumors.com/threads/541517/
I was able to find a cleaner (read as easier) method for converting from DTS-HD and DTS to AC3@448kbps (AC3 standard bitrate for 5.1 audio)
As noted in another thread, use AnyDVD to extract the Blu-Ray disk.
Once you have the files extracted, use tsMuxeR to remove the extra audio/video tracks. Be sure to select DTS-HD downcovert to DTS. Also, set tsMuxeR to demux the files which will result in 2 files, one for the video, and one with a .dts extension for the audio track.
Next, use the instructions provided at the following link to convert from DTS to AC3. Beleive it or not, I have tried it on 2 disk and it takes a little time, but is amazingly simple.
http://forum.videohelp.com/topic323554.html
Once you have the new AC3 audio track use tsMuxeR to recombine the audio and video to a single .m2ts file.
Voila, your done, copy to Mac OSX, drop into VisualHub and use your preferences of choice.