13.5 volts is a fuzz too low unless the battery was run down, and that's what 12.2 volts indicates. Low engine speed will aggravate that. Part of the test procedure involves raising engine speed to 2000 rpm during the load test. However, 13.5 volts proves the generator was working. Ideally the voltage should be between 13.75 and 14.75 volts but that quarter volt isn't the cause of a problem.
There's a number of ways a generator can fail, and given the warning light turned on, yet the 13.5 volts says it was charging while it was being tested, but dropping to 12.3 volts suggests it can't keep up with demand. That's the result of one defective diode of the six. That will reduce its maximum output to exactly one third of its rated output current. Replacing diodes isn't easy or cost-effective, especially if the generator is under warranty. All of your observations suggest simply replacing it will be the end of the story.
Monday, October 15th, 2012 AT 6:52 AM