Enable AMD Cool n' Quiet in the BIOS settings and also enable Balanced Mode in Windows power options.
In Windows Power Settings check CPU power management.
You have Minimum and Maximum percentages. Try setting Maximum below 100% and see what happens.
Minimum should be at 5%.
So I think I have figured out a few things. One I tested and found it true. Setting CPU to minimum allows it to clock down to 2ghz or so. Now it's boosting again to 4.35! I did do a windows reload with a new drive shortly after my bios update. Now my voltages are still not low when the CPU drops down. It never drops below 1.31 even when cpu speed drops. It will spike to nearly 1.5V. When it was running hte CPU at 4ghz nearly all the time the voltages were actually more stable and didn't spike as high. It's possible that overdrive being set to auto on my board is causing these voltage issues. My old bios did not have overdrive as an option. I plan to go and disable it.
The one thing I don't know.. the bios has a setting called "MODE 0"... this is set to auto I believe. This is in the NBIO setting section. I have no idea what this is for.