YouTube upgrades its video player

Wow.. YouTube just came out with an upgrade to their video player. The new one looks very colorful and eye appealing. I personally like it. The one one tended to be a little bit dull. Whats even cooler is the fact that every single video on my site gets upgraded. Without me having to do a single thing.. The only issue I have with it is that I can’t figure out how to change the volume. That feature works fine on the YouTube site; but it doesn’t seem to be available on any embedded players.