In a tweet Larry Hryb aka Major Nelson from Microsoft informs us that Microsoft is going to support blu-ray bit-stream pass-through in a preview version of the Xbox One OS. With the new support the XBox One is going to support digital audio signals unaltered through SPDIF.

Among the supported formats you are going to see Dolby Atmos (sound effects from above). The formats will be able to be passed through HDMI towards a receiver that supports Dolby Atmos, but also DTS and Dolby Digital variants. 

Both the Xbox One as the S model will get supported, You need to be part of the insider program to get your hands on the early build of the OS. Once finalized the update should be released to the general audience somewhere in 2017.

Microsoft to bring Dolby Atmos support towards Xbox One