I think that's a multi-rail PSU, if I'm not mistaken. So if you're only getting reports on one 12V rail, that's arguably already a discrepancy between the software and the hardware. I'm pretty sure that you'd have more serious problems if the rail was actually at 11.5V. On the other hand, TEC's are nasty little power hogs.
Before spending on a new PSU, got a DMM? Stick the pins in a free molex pin to see what the real voltage is.
__________________ i7 2600K | ASUS Maximus IV GENE-Z | GTX Titan | Corsair DDR3-2133
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