I would like to be able to adjust the volume on both my TV and receiver either up or down. Has anyone ever done this, is this called punch through?

Well yes and no...punch through relates to having the volume control of one device still function on a different device. For example, if you run everything thru your receiver, then when you switch to the DVD player, pressing the volume control (while in DVD mode) still runs the receiver's volume up/down.

You can punch thru the receiver or the TV for each device but not both at the same time. In general, I'd recommend punch thru for the receiver for everything except the TV and just switch to the TV page and use that volume when you want/need it. (Of course if you seldom run your receiver, you could make the TV the most punched thru...)

Thanks for the clarification, and I agree with the tip to control the receiver volume. Generally I have the TV volume quieter than the receivers. I'll give it a whirl, thanks again for your help.