If that reading is accurate, then yes that is very high. 1.3V should be the ceiling for full-time voltage on overclock. If you've got the core voltage set on adaptive, it can overdo the voltage sometimes.
If it's accurate, and that's a big if, your temps should be through the roof. At one point CPU-Z was telling me mine was at 1.65 or thereabouts when it was actually at 1.35V (which was still too high). Try running AIDA64 and see what it says - you don't actually have to be actively testing to get the stats. You can try HWMonitor too, to compare.