There were issues brought up in the past since the program did not indicate that the yeast would not continue to ferment above the upper limit. Brad responded by applying the maximum published alcohol tolerance as a safety net for those who brew much larger beers. This is not to say that you cannot exceed the yeast tolerance and certainly by pitching an abundance of viable yeast you can exceed the maximum tolerance before the alcohol poisons the remaining population. The effect of high alcohol on the yeast is not immediate either, they will slowly die off as they lose the ability to expel the alcohol from their cells.
On your previous recipe you started at 1.118 and ended at 1.026, which gives you an apparent attenuation of 78%, certainly within the range of US-05.
Several sources list the maximum alcohol tolerance of US-05 at 11% ABV, though I found one listing it as 12%. I have found that some of the yeasts which come stock in BeerSmith have the maximum %ABV tolerance set lower than actual published values. I have updated the data for the yeasts I use to match current published specs from the yeast companies I use, something that I wholly recommend others do as well since the specs do change or get updated over time.
In the end, you will get the readings and data that you get. That is real life versus a computer simulation. I always take the FG estimates with a grain of salt as there are so many different factors which can affect actual performance. When I have a question on a high gravity recipe or new yeast, I conduct a forced fermentation test to determine the minimum FG I can expect from that wort/yeast combination. I usually end up within a couple of points of that result.