Banshee does not register volume level correctly in the Sound preferences > 'Applications' tab

Binary package hint: banshee

Steps to reproduce :
1: Set a volume level in Banshee & Play a song
2: Check volume level in Sound Preferences > 'Applications' Tab.

Notice that the volume level is not the same in both the places. [Banshee and the Sound Preferences where banshee registers itself as playing]
And that the two volume levels can be changed independently of each other.

[attaching screenshot: notice that the volume in sound prefs is full while in banshee the volume level is low]

While notice the same behavior in Totem, the volume level is the same and if volume is changed either in Totem or in the Sound Prefs window, the volume changes accordingly in the Applications tab or the app.

ProblemType: Bug
DistroRelease: Ubuntu 10.10
Package: banshee 1.8.0-2ubuntu1~maverick2
ProcVersionSignature: Ubuntu 2.6.32-27.48~lp652934v201011301338-generic 2.6.32.26+drm33.11
Uname: Linux 2.6.32-27-generic i686
Architecture: i386
Date: Tue Dec 21 13:34:51 2010
InstallationMedia: Ubuntu 10.10 "Maverick Meerkat" - Alpha i386 (20100924)
ProcEnviron:
 LANG=en_IN
 SHELL=/bin/bash
SourcePackage: banshee