Fyi, I undervolt everything - it saves the wattage. The Titans are max undervolted, and it still was way too hot. The trick I found was not to use the Power Target to limit temps because the PT makes the core speed jump way too much; but, instead to use the Temp Target to limit the temps. The temp target is key because it seems to lower the GPU voltage EVEN FURTHER than I could lower it manually!
It looks like that is exactly what you are doing: take a look at your voltage: it should be around 1.135 or 1.175 at that core speed. You are limiting it with the Temp Target. I also didn't see any difference with memory overclocking. Instead of +0.035V, lower it as far as it will go instead! This should boost your core speed, as well as lowering your Power usage to stay away from the Power Target limit of the 115% of the stock LN2 bios.
I do have to make a note that with my 780 Classy, before I found this Temp Target trick, I could not undervolt it. As a matter of fact, I had to use the CLassified controller to force 1.35V really hot wattage to get it to mine at 1380 and 1390 Mhz. It was insanely hot, and pulled an insane amount of wattage (around 870 Watts from the wall, for a single GPU!). I'm hoping it was just my frack up of not knowing how to undervolt properly or PrecisionX didn't take or something. I'll try again.
Take a look at your graphs/monitor. Look at the "Limit" values towards the bottom. It should tell you what is limiting your GPU. I am going a guess and say both the Power Target and Temp Target is limiting it (Temp Target on purpose at 75C, but Power Target getting in the way).
Flashing Skyn3t's BIOS will remove that Temp Limit, and let your core Mhz and Power usage run free! Use the Temp Target, with fans set to manual of your liking, to limit the amount of khash the card is making. I have my Titans set at 80C as that is what I am comfortable with. The CLassified's VRms can take fare more abuse than my Titans, so set the guy at 85C.
I control my overall khash/s with my fan speeds. When I am in my office, like right now, I have them set to 80% because I can't bare the noise any higher (even at 80% with reference coolers, they are loud) for around 1250 khash/s. When I step out, I increase them to 100% for about 1430 khash/s. And I got rid of the ACX coolers from the Titans beause the heat dumping, even with the side panel off, made one card run way too hot. Reference coolers, with high-end thermal pads and TIM, seem to actually give me the same performance as the ACX coolers did with their EVGA thermal pads and grease. Just the noise is louder with reference coolers.
I use Afterburner for my overclocking because of 1 reason and 1 reason only: Precision X does not allow you to set the voltage in a stored profile (I have my machine set to auto start into mining and overclocking, undervolting at boot up). It's sad too, because I really liked controlling my machine remotely with my Android.