Ok here is the CSS to edit the width of the bar. If you add this it will shorten the bar width. You should probably add at a certain screen width in the s5_responsive.css file. The overlay only happens on smaller screen widths. It looks fine for me on my desktop monitor at 1920x1200.
.ttw-music-player .progress-wrapper {
width:55px !important;}
.ttw-music-player .player-controls {
width:166px !important;}