Nearly fried GPU or HW-monitor error?

I was watching some movies and playing fallout3 @ 1920x1080 for a few hours. Then I notice my HW monitor temperature read a max of 127'C! (260'F) o_O

I wasn't experiencing any artifacting or glitches at all. Also, the lowest min temperature it read was 31'C (81'F)...which I don't think is possible since the lowest GPU temp with fans at 100% was 48'C

So did my HW-monitor really screw up or did I nearly fry my GPU?