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1.
To say something or someone is really good/ cool.

or

To comment on the volume of music.
"Hey broseph how goes it?"

"Excellent Volume"

or

"Hey broseph is that Pokemon blue you're playing, that shit is retro, how does it hold up?"

"Excellent Volume"

Or

"how's the music? Loud enough"

"Excellent Volume"
by Redtop Studios February 15, 2010