I can imagine it would be possible to reverse engineer the service interfaces of DolbyDAX2API.exe (&quot;exported functions&quot;), write a wrapper which embeds the original executable and forwards the service requests to the original implemententation. The wrapper could contain malicious code and intercept the service calls.
This could be even done generically. Maybe something like this exists already anyway. 
This way nobody would notice that something is wrong - functionality wise. Perfect eavesdropping on Windows services.