My reason for the opto is to galvanic isolate the audio signal from the controlling power, to let the audio run through without having to clean up the power and be able to select the best chip for dimming the opto, not caring if it "sounds good".
Also, it could be a "funny" detail to play with, to only have a single FET, acting as the clamp on the signal. But is there anything stopping me in using the potentiometer-chip to dim the opto instead of "dimming" the audio signal? :-)