"If this is what your governor
"If this is what your governor looks like, then it is mechanical.
http://www.marineengine.com/discus/messages/12495/221120.png"" alt="""">
In regards to the RPM fluctuating, a bad injector most likely won't cause that to happen.
To correct the fluctuation, I would start by checking the gap in the picture that I have a red circle around. The gap should be .006" Pull the governor top off and you will find what I am talking about. If the gap is correct, the next step I would take would be to pull the governor drive off the blower and check for bearing wear in the drive. (Please forgive me if I am wrong, it's been awhile since I've worked on a mechanical governor)
[img]http://www.marineengine.com/discus/messages/12495/221121.jpg
On a side note, if an injector goes bad, most of the time it will cause the engine to white smoke out of the exhaust, or the injector will stick. If it's stuck, the plunger will stay all the way compressed, or (if you have an old-style rack) it won't let the rack move.
Let us know how it turns out."