I'm only advocating more fuel at that point because of the sawtooth, which depending on the dyno software smoothing may be hiding detonation. I've also only said that 11.5:1 is a safe STARTING point.
One thing I've found dyno tuning turbo cars, is that the power difference between 11:1 and 13:1 is pretty small, when compared with the other variables. (ie: timing, boost pressure) Less fuel after the torque peak is also consistent with my experience.
I'm still a bit surprised at the outright number, however the curve looks as I'd expect. The dyno setup could explain the low peak numbers. (Improperly entered ramp rates, inertial, ambient temps, etc... whatever that particular dyno uses for user inputs)