your alt cant keep up, thats why the voltage jumps up so quick back to 13.5-14 without a heavy load on it.
talk to iamamp3pimp, he has a neon with a huge system and has probably dealt with charging issues like this, you probably have a 60amp alt. i know he has a large battery bank.
the batcap is doing its job, charging back up. but like said above, they dont have a large reserve capacity and are quick to discharge/charge therefore needing a powerful alternator to do the charging part. i love mine though, they've supported over 4kw for me before dropping to 12.2v full tilt with a h/o alt.