I'm not sure if I understand this correctly, but my original impression was that since it will be based on a flash player and not the computer's individual mp3/wav player, the volume is not dependent on any computer-based settings that the particular application had. I highly doubt it means leveling all volume out.
I would say Aye; however, I believe that the original was made as it was because there IS no way to get the progress of an image being loaded. You can just know if it is done or isn't. Haven't looked into it myself though.
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