The IVR voltage being 'low' is indeed consistent with the low gauge readings. It is more likely that the IVR is 'short cycling', i.e., the 12 pulses that it is putting out are too short and giving you a low average voltage. If your Fluke meter is not showing anything, then I really suspect the short cycling of the IVR. The Tripplite analog meter is showing all that it can....
Getting to the IVR in your case is a pain; otherwise there is an easy way to check with a 6V battery.