Okay here's my un-scientific experience when experimenting with these type of volume controls.
I did an impedance sweep of a new 70V ceiling speaker (single-driver bose can, set at 32W)
I then connected 1 channel of the VC and impedance swept it in the off position. with the little jumper set at "4X" it approximated the lowest impedance I saw with the speaker by itself. It however did definitely have a rising curve with it's own peaks -much like the response of a speaker and not at all like a straight resistor would have.
(I would post screenshots but they are on a windows laptop 40mi from here)
I connected up the speaker and hooked it to a new 400W @ 70V contractor amp I have here (EV PA-2400T)
At low volumes it worked, but definitely was attenuating the highs considerably compared to the speakers native response The VC did work though and had a decent even range between off and full. At it's highest setting it still was a couple dB quieter than no volume control at all -so max setting still has windings inserted and not a straight bypass like 70V attenuators -probably something to do with those 2X,4X,8X jumpers on the unit.
At higher volumes (amp flashing the -10 LED) the volume control actually moved! It was vibrating so much from the windings of it's coil I didn't dare keep it at that level for more than a few seconds -the amp was also making noises from it's transformer so I shut it down fast.
The signal I was using was band limited from 75Hz to 12k, cant imagine what kind of vibration would occur with lower frequencies.
So In my brief tinkering I've come to my conclusion that these controls are garbage and I wouldn't want them even in an 8-ohm home stereo application like they are intended. (This also must be the reason why decent documentation on these products doesn't exist!)