That Bagon is Salamence called Karma now, and completely EV trained, so yeah, those are the actual IVs.

They were estimates at the time of it's hatching (I scout IVs by feeding the Pokemon Rare Candy / Iron / Calcium etc. then entering the stats to Metalkid's IV calculator and soft resetting), but I verified them after leveling him.
IVs can range from 0 to 31 in every stat. By overlapping, I meant that the Pokemon can consecutively inherit it's father's
Attack IV as it's first stat (let's say it's 4), mother's Attack IV as it's second (let's say it 30) and then father's Attack IV again as it's third stat. The game calculates all of these, but the Pokemon can only inherit the latest one, which would be 4 in this case. Like I said, I only read about this, but I don't believe this to be true.