0dB on a receiver volume control is a standard reference point only in the sense that it is standard to use that point for your 'reference' level.
As far as what it actually corresponds to in terms of the electrical characteristics of the receiver, there is no standard and it is essentially an arbitrary point chosen by the manufacturer. It might be the point at which the receiver is putting out its rated power, it might be the point that is 80% of rated power, it might be the point where the output meets the rated distortion level, it might be the point where the pre-outs would output the maximum signal level they are capable of (say 1V). It could be any of those things and there is no way to know because the manufacturers don't tell us, but in general, it is totally arbitary and meaningless.
Now as far as what 0dB means in terms of a digital signal, that is well defined. 0dB FS (full scale) is the highest level the signal can achieve. It relates to the number of bits that was used when quantizing the signal. Thus for 16 bit PCM (like a CD) 0dB is a sample value of +32,767 or -32,768 [remember a waveform has both a positive and negative component].