The alternator can only make about 1/3 of it's rated output at idle RPM. 1/3 of 150 watts is around 50 watts. The standard electrical load for a stock bike is 8-10 amps or 100-120 watts. In order to keep the spark going, the battery must supply the difference between what the bike needs and what the alternator can supply. Further, the alternator needs to take some power from the bike for its electromagnet, to make power develop in the stator windings. So, at low RPM, the regulator should be commanding full power to the alternator field windings.
The battery voltage should rise above 12.6V when the alternator is revved above 3000 RPM. Depending on battery charge state, it may rise very slowly. A depleted battery will take about 10 hours of 5000 RPM alternator rotation time to restore a lead acid battery to its peak 14.5V charging state. To check the charging system in the shop, charge it with a wall supply battery charger, and then move the battery to the bike to check the battery voltage at each 1000 RPM increment. If it still can't get above 12V, you either have more than standard load for the bike's electrics, a bad battery, or a connection issue. You could try pulling all but the main fuse to lower the electrical load, just to see how the charging system responds.