I understand the audio issue that you are experiencing with the application. It's necessary to determine if you have the same trouble using a computer and not just with the iPad. We need to get that information first, but basically if the issue also occurs on Watch at Slingbox.com you need to check the cables on the back of the Slingbox. What type of Slingbox do you have?
Have a look at this article:
Regards and hope this helps.