The Dolby Digital signal is AC3, a lossy codec for 5.1 audio. I believe it's the same AC3 that DVDs use. Bitrates (and audio quality) is roughly similar to MP3. Both were developed around the same time.
> I suspect audio data is stored uncompressed.
A little bit of math: 96 squares a second, at (assumed) a 48000 / second sample rate correlates to 500 samples / block. If it's 5778 bits a block, (and that's a strong if,) that's ~1000 bits / block / channel, or ~ 2 bits a sample. There's definitely a LOT of compression going on.
> I couldn’t find any public references to the dolby matrix encoding format
The author is confusing terms here. "The Dolby Matrix Encoding Format" is what's going on in the analog audio tracks. In audio, "matrix encoding" is how multi-channel audio is derived from two-channel audio. The analog audio is "Dolby Stereo," where a 5.1 mix is "matrixed" into a 2-channel recording, and then "de-matrixed" on playback. (In theatrical audio, "stereo" means what home audio calls "surround" or "multichannel.")
From https://en.wikipedia.org/wiki/Dolby_Digital#Cinema A constant bit rate of 320 kbit/s is used.