I'm just facing the same problem, all I get is a buzzing sound out of both outputs on a POD HD300 and I have to be on-stage on Friday :S I hope I can find some support in the music shop I got it from.
this is really disappointing, I think I paid a lot of money for it thinking it was robust, I think it is not.
I have re-installed the firmware and drivers, the sound got a little bit better but I sill have an amount of buzzing sound that is not acceptable, I'm trying to go back to a previous Firmware version and see if it works