I wouldn't trust the software monitor very much; if you want to know what the MB is outputting, test the VDD pins of the RAM sockets with a voltmeter.
A lot of RAM these days specced to 2.8, 2.9, or even 3.0+V. JEDEC specifies operation at 2.6V for up to DDR400, but beyond that there are no official standards. How much is "too much" is up to the manufacturer.