Workaround: Add a Multi-Output Audio Device in OS X
- Open the Audio Midi Setup utility by selecting Applications -- Utlities -- Audio Midi Setup
- In the bottom-left corner of the application's window, you'll see a "+" symbol. Click "+" to begin creating your Multi-Output Device.

- From the drop down list that appears, select "Create Multi-Output Device".
- You'll now see a new audio device in the left-hand panel named "Multi-Output Device".

- Now tick the boxes of all output devices that apply. In my case, I chose both Built-In Output (audio jack at back of unit) and Display Audio (my 24" Apple LED Cinema Display). This will allow your audio to be output to both the Cinema Display built-in speakers as well as any speakers connected directly to your Mac Mini's headphone jack.

- To ensure that your new Multi-Output Audio Device is selected as the default playback device, look for the audio signal icon to the left of the device's name.
- If you do not see this icon, or if it is currently next to a different audio device, then you must set your new multi-output device as the default audio playback device. To do this, single-click on your new device so that is it highlighted. Then select the Options icon from the bottom-left of the application window (it looks like a small cog with a downwards arrow next to it). From the drop-down list that appears, select "Use This Device For Sound Output".
I hope this helps you all out. It's not perfect (as far as I can see, the system-wide volume control setting is non-functional with this setup) but it makes the audio sound ten times better.
Just a word of warning though:
This seems to set system audio output to 100% so remember to check the integrated volume settings on ALL output devices BEFORE playing any audio!
Cheers,
aTym