What's being sent to the IPRs coil is a rapid cycle of power from On-to-Off (Open = Off / Closed=On). This makes the valve (pintle) inside go from bleeding-off pressure to keeping the full pressure that the HPOP is making. This gives the system a average between the two and is how HiPres Oil gets regulated by it (the PCM has a Table it uses to meet Power & RPM needs and changes that %).
So, what you read is that % of Open/Closed that's being sent to it (again, it's a percentage of CLOSED that we read). There is no 100% (as when you apply 12v to it) and there is no 0% because it takes time for that pintle to move back & forth (I think the Max is really around 65%, although some scanner sw might say higher, and 5% is as about as Low as it goes when running)
When you say "Actuator", is that the Coil that surrounds the stem? There are two parts to the IPR and the coil is what's doing the actuation by pulsing the magnetic field that works on the pintle inside the stem. If Bad, and it can't create that field, so the pintle would just be blown-back by oil pressure, giving you no resistance to a full bleed and Low ICP (which isn't what's you're seeing).