Hats off to Larry for replying to my email so quickly. I tested it and no loud hum. It's a relief to know this is a normal operation sound.
Here's his reply:
Hello,
The volume level is adjusted with a motor attached to the back of the volume control (potentiometer), and the buzzing you are hearing is the electrical field from the motor being coupled to the (very) close volume control contacts. During the installation of the volume control we use a sharp tooth lock washer between the volume control and the chassis to electrically couple (ground) the volume control to the chassis to minimize the buzz. One test you can try to see if the control is properly grounded is to touch the volume control with no music playing. If you hear a loud buzz/hum that means the nut holding the volume control shaft has loosened to the point where the control is no longer grounded. if you don't have a loud buzz/hum when touching the volume control knob then it's the buzz you are hearing when the volume control is moving is the normal electrical interference generated by the volume control drive motor when it's engaged.
Note that if you do have a loud hum/buzz when touching the volume control knob you can fix it by removing the knob (held on with one or possibly two set screws) then "firmly" tighten the nut holding the shaft with a 7/16 nut driver (or socket). Be careful to not over tighten the nut as the volume control shaft is made of aluminum, and while unlikely, it's possible to strip the threads.
Best Regards,
Larry Jenkins
Audio by Van Alstine