I have an HP HDX16 laptop; the tone control buttons at the top of the keyboard work, they change the volume and the indicator bar on the screen appears when you press them. But the speaker button itself stays orange even when the speakers are on. I've tried uninstalling and reinstalling the SmartMenu, QuickLaunch buttons, and ToneControl. Any ideas?
Try to update your drivers. Go to Driver Manager, and select those for your speakers, and buttons.
If your laptop came with any CDs that contained software (like ToneControl, or any other software related to your laptop, try re-installing them).
If none of the above works, try to restore your computer, (using System Restore) to a time when everything worked.
If worst comes to worst, reinstall Windows.