@amirm thanks for testing.
It clears things up... a little.
A little analysis.
The added distortion (-75dB) is in the estimated ballpark range of what was expected. Fortunately on both channels in the same way and have to assume this is not attenuation level dependent as in all cases the added distortion will be caused by the 'switch selector' in the volume control IC.
The AD5262 datasheet states worst case is 0.014% and the measurement is a little worse 0.017% so seems correct.
Assuming this is the same for 90 setting as well there is a measurable amount of distortion added and is also relatively high for the more audible higher harmonics.
0.02% THD is something I have never been able to detect using music (because of all the masking going on) so is not alarmingly high but ... undesirable.
Distortion is the same on both channels so the difference (which is what counts) is much, much smaller and this is what's important in an ABX.... the difference.
Some missing info is the used
load capacitance and
load resistance.
The roll-off will depend on the load capacitance which most likely will be determined by the cable and when it is going into an amplifier might also be influenced by the input capacitance. It thus can only get worse.
An interesting measurement is the attenuation vs frequency response.
At 99 setting (max volume) and, I assume, 100k load of the APX555 we get 1.56dB attenuation and with the used RCA cable a -0.2dB roll-off at 20kHz.
This would calculate as the box having an output resistance of 20k (assuming 100k load, when another load is used that doesn't fly anymore).
This would be an unusual high output resistance as the chip itself would be around 60ohm at 99 volume setting.
It is not unthinkable that, because the 20k IC was used the designer added 20k to the 'wiper' so input and output R would be the same.
This would not have been a good decision if that were the case.
When the box was loaded with 600ohm the output R would be 118ohm which would be closer to the minimum 60ohm of the used volume control IC.
When the box was loaded with 10k (your average power amp) the output R would calculate as 2k.
When the second DAC were to have a different output level that resistance value would increase a little resulting in a lower cut-off frequency.
This is what is measured as well. Seeing what Josh wrote that the different DACs were only different a little and the setting was somewhere between 99 and 90 the 90 setting measurement is handy.
At 90 setting an extra 1.2dB attenuation is present and at 20kHz the roll-off is -0.4dB so -0.2dB with the used load extra.
The roll-off (and subsequent phase rotation) difference will have been max. 0.2dB at 20kHz (and less at lower frequencies).
No idea if such a small difference at 20kHz (and much smaller at 10kHz) is audible and could be a reason.
At setting 80 (2.5dB difference which could happen if DAC A is 2V out and DAC B is 1.5V or 2.7V the roll-off at 20kHz (for the used RCA cable) is -0.6dB so a 0.4dB difference which may well be audible for a young tester.
Missing info is the load resistance and capacitance.
I'm afraid the results aren't conclusive as only the difference between the inputs is what is ABX'ed and those differences are negligible for distortion despite the decrease in fidelity of the box itself (SINAD 75, distortion dominated).
The questionable part is either a difference in 'mute' time (which most likely is not present or too small to detect and is not measured) or a barely audible difference in HF roll-off (at 20kHz) and/or phase difference which would depend on the used RCA cable and load impedance.
I'm fairly certain (given my experience with blind testing in the past) that I would not be able to pass the test based on the measured and expected differences.
There is a considerable measured change brought by the box when using the volume control of the box.
Anyway interesting results.