Hi EducProject,
I noticed the same behavior when I ran your file, so I consulted the Example Finder to see how other VIs implemented volume controls.  That's when I came across the Sound Output to Sound File.vi.  It contains a numeric slider that allows the volume to be adjusted on the fly.  The function used to perform this action is simply the Sound Output Set Volume.vi.  When I tried to modify your program to include this VI, however, I realized that I did not have the task ID for input.  Thus, I right-clicked on the Play Waveform Express VI and selected "Open Front Panel."  With that complete, I dove into the background code until I found where the sound device is actually configured (Sound Output Write Simple.vi).  After modifying this VI to include a volume input, I was able to adjust the volume.  Please give the attached code a shot and let me know your results (requires slight modification to play the .wav file).  Goodnight!