If you have your mouse over the video stream and use the mouse scroll wheel you change the volume. There is a indicator with the current volume in '%' in the top right of the video. And it default at 100%, goes down to 0% and max is 200%. So if I want to change the volume I mouse over the video and use my scroll wheel to change to volume of the video with VLC.
This feature is not working on streams in VLC 3.0+. On regular video files that are stored locally on my computer it works fine. But if I'm streaming a video on the internet with twitch/youtube etc. The volume locks for one second after a volume change has happened when I have my mouse over the screen and scrolling to change the volume with VLC for the stream that is currently playing. So if I'm on volume 100% and try to change the volume with the scroll wheel, it will only move one step, 95% or 105% depending on scroll down or up, the volume will be locked at the new volume for one second.
Changing volume on 2.2.8 100% to 0% takes as fast as you can scroll, while on 3.0+ it takes 20seconds, 1 second for every step of volume change.
OK, understood. I didn't know that option existed.
However, I don't experience any delays using it on 3.0.4. I noticed as well that you can use the up and down arrow keys to increase/descrease the volume so maybe try that instead of using the mouse.