Me and buddy are testing the mod as we speak, and let me tell you it looks good, some minor issues aside. The sounds did work (but only on the silenced versions) when we started and seemed too mute down dynamically as described above, although the problem seems to be they don't come back up again after the explosion or whatever the loud noises were.The sound on the loud guns doesn't work at all.
All In Arma mod seems to have similar issues with sound, only that mod crashes the server entirely when you shoot a OA gun in a high rate for prolonged periods of time...