Apple Final Cut Pro 7 - Manual (Page 934)

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Hold down the Option key and position the pointer over an existing keyframe. The pointer
turns into the Delete Point tool. Click an existing keyframe with the Delete Point tool to
delete that keyframe.
With the Delete Point
tool, click the keyframe
you want to delete.
To delete all keyframes
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Click the Reset button.
Reset button
All keyframes (both audio level and pan) are deleted, and the audio level of your clip is
reset to 0 dB.
Using Keyframes to Adjust Audio Levels
You need at least two keyframes to make any dynamic change from one audio level to
another in a clip.
934 Chapter 57 Mixing Audio in the Timeline and Viewer