I'm having the same problem since installing 10.4.11 in my 1.5ghz PowerPC G4 Powerbook with 1GRam.
Recurring loss of audio when switching between apps. My biggest usage is - Final Cut Pro, iTunes, Quicktime, Ableton Live.
I have to restart to get the sound back. The next time I switch apps. it may or may not happen again, but I have to restart at least once a day since the OSX update.
I see there is more than once incidence of this recorded in the forums.
Thanks,