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on gt's there arent speed governors just rev limiters.
I believe they set the governor at whatever the tire rating of the stock tires. So if your car came with H Rated tires, your governor will more than likely be set to 130. If you have Z rated, which most of us do, it will be set to 150, or not have one at all. Did your revs completely stop at 110? Or it wasnt accelerating very quicky? These GTs arent too quick after 100 if theyre stock.
Its weird when it does it, it doesn't shut off like a normal governed car, but its not like it stops accelerating either, its hard to describe in words, but its like if you keep your foot in the gas when it hits around a 100 it skips like a rev limiter, but its not redlined. you can let off and hit it again and duh duh duh.... it skips again.
In my other car my transmission was screwed up and it didnt go into 4th gear so it stopped like how you were explaining it but at the time i didn't know it wouldn't go into 4th gear so i thought it was governed but when i got a new transmission it finally went past that and shifted into 4th gear....so maybe your transmission is screwed up?