You can try out a first version of it here: link removed.
There are quite a few changes made, since most of the code was (imho) way too bloated, making the process very complicated.
Everything seems to work alright for now, except for the thumbnail page, which I don't know how to adapt at the moment. I'll do some extra research and see how can I force it to get the size of the slideshow element, without extending over the controls area.
The page currently has a max-width of 1024px set. Resize your browser to anything lower and you should be able to see the results.
Here's a short list of the most important things changed:
changed the #slide_area div into an ul, for an easier management of the fade-in/out transition
the slides aren't positioned:absolute anymore. They're list items, left floating with relative positioning and a right margin of -100% (to actually have a nice transition effect and not have it pass through black).
and a lot of other small changes...
Wherever possible, I kept the original code (both in soundslides.css and soundslides.js files), commented out the part I wanted removed and added unindented code to replace that particular part (this mostly applies to the css file).
Check out the source: css and js
Things to do:
fix the thumbnail display
check the fullscreen, panning and lower third subtitles features (but after upgrading my licence to pro)
test it on sufficient browsers to make sure it works properly
Looking forward to your input on this.