I have a Mac Mini Late 2012, 16GB ram, 2.6GHz, Intel core i7, Intel HD Graphics 4000 1024 MB.
Many of the posts/solutions that I read recommended copying the file: AppleIntelFramebufferCapri.kext (contains video/res/buffer settings?) from a Mavericks Time Machine backup. Next downloading a program called KextBeast (installs .kext files) and run KextBeast to install that file into Yosemite. Since I didn't have a Mavericks Time Machine backup - I did a fresh install of Mavericks then copied the AppleIntelFramebufferCapri.kext file to an external drive. Next I did another fresh install of Yosemite. Booted up into Yosemite. Copied the AppleIntelFramebufferCapri.kext file to my desktop. Ran the KextBeast program and it installed the file exactly where it is suppose to be. I rebooted and then opened System Preferences/Displays -chose the "Scaled" option and there was the 3440x1440 resolution at the top of the list. My LG 34UM94-P Monitor is running in all its 3440x1440 glory!!!!
To locate the AppleIntelFramebufferCapri.kext in Mavericks:
From the Finder, select Go > Go to folder... and enter "/System/Library/Extensions/".
KextBeast can be downloaded here: www.tonymacx86.com
I have to admit I was worried about running KextBeast - just because I know nothing about the program - but I figured worse comes to worse I would do a fresh install back to Mavericks. But KextBeast worked like a charm! If you have the know-how using Terminal you can do manually what KextBeast does -do a search for jonathans Blog. KextBeast requires that you first copy the AppleIntelFramebufferCapri.kext file to your desktop.
SOME OTHER NOTES:
There were some posts that recommended getting a Hex Editor and editing the AppleIntelFramebufferCapri.kext file - I assume they meant the version of the file that is used by Yosemite - but I went the easy way.
Hopefully this is helpful,
dc
WUPS - I forgot to mention that I am using an Apple Thunderbolt cable NOT a DisplayPort cable.