I do not think the trimpot has enough authority to peg the gauge at 12.5 volts but you could see if maybe cleaning it would help. It should be no big deal to replace a voltmeter with one from another cluster if that is what is needed. Maybe it has mechanically failed so any voltage sends it off the scale rather than having progressive resistance to needle travel. I think they use a little clockspring which could break or pop off or something.
I have had to replace a tacho in a 928 and it was not difficult and cluster parts were not expensive. I do not think the voltmeter is a common failure so probably easy to come by. That being said...
Please do check the system voltage, I could see blowing up the voltmeter as an early symptom of a high system voltage (when running). In my case when my regulator died I could hear the HVAC blower running kinda fast also and changing speed with RPM (and a high reading on the voltmeter). No Central Warning light though.