The voltages you are reading are actually pulsed, so the only completely valid way to test them is either with a scope or logic probe. If the signal is locked on (rather than being pulsed) you will get high readings.
Since the reading you get when using a DMM on a pulsed circuit can vary wildly, depending on the quality of the DMM, it is impossible to say if 12.5 volts is ok. About all you can get with this method is relative readings when comparing different circuits. I would check all of the column readings at J206 and see if they read the same.
Since U20 (column driver) is blowing I'm not sure the row voltages are even relevant since there is a blocking diode on each switch. Although something could be over-driving the chip.
Which columns quit working when the IC blows? At the moment I would be more suspicious of high voltage getting shorted to one of the columns.