You can always drag the icon out back onto the main section of the taskbar. It’s nice, but your volume icon may actually just be in the grouped icons rather than it’s own icon on the taskbar, so make sure to check that first. This is to basically save space and make your taskbar look less cluttered. Also, in Windows 7/8, taskbar icons can now be combined. In Windows 7 and Windows 8, the taskbar got a huge revamp and so the process is completely different.

Now your icon should appear in the taskbar. Re-check the box and then click Apply again. If it’s already checked and the icon is not showing up, you need to uncheck the box, and then click Apply. You’ll notice the “ Place volume icon in the taskbar” option is either checked or unchecked. Once you open the dialog, you should already be on the Volume tab. Personally, I like Classic View better since it’s easier to get to what you want quickly.