Pure sugar is the most fermentable substance, at 1.046 points per pound per gallon. With 12 pounds of sugar in 3 gallons, you'd expect a OG of 1.183. Honey has an estimated yield of 35 ppg, and correspondingly the gravity would be lower - 1.135.
There could be 3 possibilities for the observed high gravity
- the stratification is causing the reading to be off.
- you were given more than 12lb of honey
- the honey was cut with sugar, giving an overall higher ppg yield. This might account for the white fluffy appearance.
Incidentally, to accurately measure gravities off the scale on the hydrometer, dilute the sample with an equal volume of water and mix well. The actual gravity is then double what the hydrometer reads.
To accurately determine if the fermentation has reached terminal gravity or stockstuck, you can perform a forced ferment of a small amount in a separate vessel with some new yeast at a warm temperature for a few days.