Of course...the only true "volcano" greens are those at the Volcano Golf & CC on the Big Island of Hawaii — but they hardly meet the description above.
What you are describing is a push-up green, but perhaps to excess. Aside from the occasional existing feature which might suggest such a design, I'm not sure there is a trend or rationale for anything so penal sounding.
I found a "nice" and suitable spot for a green at The Hideout (Hole No. 13, 520-yards) and it approaches 15-20 feet on the left, back and front (maybe 10-feet) in terms of elevation above the surrounding terrain. The long shot inbound — let's say a second shot vying for the green — is a troublesome undertaking. However, the controlled short iron has little difficulty in holding the surface.
A Pete Dye course here in Arizona (Red Mountain CC) has a severe Redan green — although pointed at the golfer in true Redan meaning. I've seen players hit from one side to the other at the narrow front, finally giving up and hitting 70-degrees away from the target just to stop their ball on the putting surface! It was fun watching this, I must admit.