If so, then it's not a dBFS meter, or it's showing you how far over 0dBFS you went, but nothing actually went over 0dBFS since that's as far as it goes. So, what happens is the signal is going up, and it hits 0dBFS and goes flat almost instantly, then when the signal comes back down below 0dBFS it goes back almost instantly from flat to on the way back down. Those to and from flat instant transitions will cause nasty distortion when amplified because they are effectively square waves.
In the digital world you have a set of of numbers to represent amplitude (not volume which is something in the air, but relative amplitude) of the signal. That number (as it goes out the master bus to D/A, or as it comes in from the outside world to A/D) is these days pretty much always a 24 bit number, so from 0 to about 16 million (0xFFFFFF in hexadecimal.) 0dBFS is 0xFFFFFF, i.e. all of the bits are used up and you can't go any higher.
It goes down from there, approximiately 6dB in dynamic range per bit (a relative measure of amplitude change in the numbers representing th signal in this case, still nothing to do with volume in the air.) So 24 bits time 6dB means about 144 dB of dynamic range in total from the value 0 to the value 0xFFFFFF, though down at the very bottom there (on the 0 end) you'll never really use those very low numbers for anything useful, since it's basically all noise down there.
How those numbers relate to volume in the room is purely dependent on the volume control of whatever amplifier you are pushing the D to A'd signal into. The range of volume in the room is limited by the dynamic range of the values in the digital realm, which are controlling the level of the signal input into the amplifier. I.e. at whatever level you set the amplifier, a digital signal coming out of the DAW at 0xFFFFFF will be 144dB louder than a signal coming at with a value of 1 (sans speaker his and such.) But it's a relative measure, and the actual SPL (loudiness in the room) that relates to depends on the amplifier and speakers and such.
Does that make sense?