So, here are some thoughts about attenuators. Admittedly, I've never had or used one.
But, since a speaker's impedance isn't a constant value, but is a reactive value, it seems to me an attenuator with just resistors can't account for or duplicate that.
I mean, take an 8 ohm speaker...it's nominal value is 8 ohms. Usually that impedance is measured at something like 400 Hz. It's physical, DC resistance is less...usually around 6 ohms. At higher frequencies, the instantaneous impedance of a speaker can be much greater than it's nominal rating.
The point being, although a speaker may be rated for 8 ohms (or some other value) the actual impedance presented to the amplifier at any point may be higher or lower than that, depending on frequency.
So, I don't know what impact it may have on tone, but it seems that a purely resistive attenuator isn't going to be able to reproduce a reactive impedance, like a speaker will.