This is most likely due to the syncing that goes on between the TV and the HTPC. When you turn the TV off the graphics card still remember the session or something like that. I know that Dr Flick and Ian spend a couple of episodes on it over at the Custom Integrators Show on The DLS.
Anyhow, to a solution. You have go get your devices to renegotiate the HDCP (thank you movie industry again) in order to get the picture again. This is why is does work when you disconnect the HDMI cable and reconnect it.
Another way to "force" a renegotiation is to reset the graphics card. This can be done in a whole lot of ways but the one I find the easiest is to switch from 1080p to 720p and back again. Or you could set up a profile that changes from 50hz to 24hz with the same result. The trick is to be able to do this via the remote. I use Eventghost (www.eventghose.com/download), a wonderful program that lets you do just about anything with your computor.
Another thing that might work is to cycle inputs on your TV.