Make sure you are using PowerDVD 10 Ultra 3D and not any other PowerDVD 10, the rest doesn't play Blu-ray, only the Ultra version play Blu-ray. I prefer ArcSoft TotalMedia Theatre though.

Then you might want to try ArcSoft TotalMedia Theatre, or get a lower version of PowerDVD. The new one seems a bit cranky, it doesn't even run on my system just because I am using dual screen with one in portrait mode lol

That software bypass all protection in a blu-ray disc such as the AACS key and region coding, seems like you are having problem with AACS key in your blu-ray movie. I am guessing that your software is not updated for the new AACS key in Salt. You might want to try out some older blu-ray title, borrow from friend or something and see if it can play without using DVDFab Passkey

By software I mean DVDFab passkey, try playing some older blu-ray title without it running, if it can play than most probably your problem is your blu-ray player (powerdvd) is not updated for the latest AACS key

I am not sure about this but I don't think blu-ray playback required external codec, all you need is your blu-ray software, everything you need to decode blu-ray movie is built into it