does anyone know if an alternator regulator goes out, can the alt. produce too much voltage and cause things like icm to be fried?

Typically, if the regulator shits the bed the alternator will not charge at all but I have seen them fail in a full fielded state and WILL overcharge. So it is possible to see 16+ volts and that could fry things like light bulbs and control units etc.

Even more probable are the diodes shorting. This causes the voltage regulator to go high, and charges with an A/C waveform. This will spike a PCM in a heartbeat.