So what do those mics symbols stand for

[Cortexian]

Yea, the only way to mute your mic on H2V is to have a headset that allows you to switch off the mic.

[{XF}Lowsy]

The Speakers with boxes around them mean that that player doesn't have voice ability (no mic). The Speakers mean they do, the speakers also light up when your talking.

Thank you. That is what I was after...

Personally, I have a USB headset/mic. But in the 'Live personal settings' I always leave my mic muted so I can chat with my clan on Teamspeak. Now if there's nobody else on TS, then I unmute my mic so I can talk in game.