The school is reassessing him now with the WISC IV and Woodcock Johnson because they are seeing a gap between his academic performance and his IQ, and they think the original result was inflated (highest subscore 137 performance lowest score 129 verbal processing 119).
He has never tested lower than 99th percentile on any standardized test (1st grade his fall 2010 MAP scores were Math 194 Reading 196).
So, it sounds like his test scores are very high and easily in line with what would be expected given the earlier IQ scores but his performance in class isn't that high. Is that correct?
Like others have said, early IQ scores aren't set in stone. It is certainly possible for scores to go up or down significantly over time in children. However, I don't know that there is much you can do about that and worrying about it is only likely to increase anxiety which isn't going to help his performance.
How long will it take for you to get the results? I'd definitely ask what they intend to do with the results if they don't line up with his earlier IQ scores and MAPS scores. Do you think that the current placement is the right fit for him? Sometimes the right fit isn't determined totally by IQ and sometimes we may never know the child's exact ability.
I have one child who is probably HG but who isn't dramatically accelerated in terms of her placement b/c it just isn't the right thing for her for a variety of reasons. She's also one for whom we'll probably never know her "true" IQ despite two tests. She's PG, or MG, or somewhere between the two! She's also 2e and wildly erratic with average subtests and HG+ subtests every time she's tested.
Some kids who aren't gifted achieve very highly and do quite well in accelerated/GT/AP placements, some do not. The same applies for gifted kids.