Yes that is absolutely what is happening. I know of *no* TV today which accepts DD over HDMI (there is always hope some future TVs will start accepting DD over HDMI). They all just tell the source device they are 2-channel capable and the source sends them 2-channel PCM.
If you want DD over HDMI you need to use a newer receiver with HDMI switching.
However that shouldn't stop you from running a digital optical/coax cable from your STB to your receiver like you've been doing for ages. If the TOSLINK or SPDIF is forced to 2-channel by virtue of the HDMI connection being 2-channel then that is a design bug.
If you want DD over HDMI you need to use a newer receiver with HDMI switching.
However that shouldn't stop you from running a digital optical/coax cable from your STB to your receiver like you've been doing for ages. If the TOSLINK or SPDIF is forced to 2-channel by virtue of the HDMI connection being 2-channel then that is a design bug.