Skill Points And Identifications

Just like a lot of other people I've been thinking about what would be the best class (for me at least.)
And I found out that some people have (for example) 106 dexterity points or 112% explosion chance.

So my question is: Do those percentage chance identifications/skills do anything extra above 100%?

Like a 6% chance for triple attack damage in the case of dexterity or a 12% chance for 2 explosions.

If this does work, just imagine 200% chance super fast weapons, for example.