The sliders are only available on Leopard. From http://www.rogueamoeba.com/freebies/ "New in 2.0 - Volume sliders for all devices, right in SoundSource! (Mac OS X 10.5 only)"
I too have had problems with CoolIris seeming to create a runaway process. To remove the software go to /Macintosh HD/Library/InputManagers and remove the folder with CoolIris in the name. Also go to /Macintosh HD/Library/Internet Plug-Ins and remove the WebKit plugin with the name CoolIris in it. Substitute the name of your system hard drive for "Macintosh HD". You will have to do this from an admin account or put in an admin account name and password when asked for one in a dialog box. Reboot after doing this.
[Version 1.8.5.14750]
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Capster
Ltomko reviewed on 26 Sep 2011
SoundSource
+2
CoolIris