So I am having trouble grasping onto the concept of velocity decreasing and how to obtain what time velocity would be decreasing and why. I know these rules but do not understand why this works for speed and not velocity: a(x) X v(x) < 0 means that particle is slowing down a(x) X v(x) > 0 means that particle is speeding up
What does it mean for a velocity function to be decreasing vs the speed function to be decreasing?

For this example, the velocity oscillates between 1 and -1. When the value is positive, the the object is moving along the x axis in the positive direction. Lets call that direction right. When the velocity is negative, the object is moving left. This is because velocity is a vector quantity. This means it has both a magnitude (the speed) and a direction.
The speed, however, is always non-negative. This is because speed is defined as the absolute value of the velocity.
In the example given, for $3 < t < 4.5$ the velocity is decreasing, from $0$ to $-1$. This you should be able to see from the function $v(t) = \sin\left(\frac{\pi}{3}t\right)$ that describes the velocity. However, the speed increases, from the absolute value of $0$ to the absolute value of $-1$; from $0$ to $1$.