So I was having the same problems, with the NuForce DAC 2. Googling the issue a bit, it seems USB Audio in El Capitan has major issues, the basis of which is Apple completely rewriting how USB Audio works (or so I gather).
I was super frustrated with this, as I use 10 foot USB cable to connect my machine to my receiver – the DAC sitting at the receiver.
After reading antiproanti's post about IOUSBInterface coming up instead of the name of the driver, it occured to me that it may be a problem with my USB hub.
It was!
Plugging the DAC directly into my machine I got the same thing as – shows up as Nuforce DAC in sound outputs, dissappears after one attempt connect, and reappears as IOUSBInterface.
Mildly annoying, but a lot better than recabling my studio :•)