Angusdave,
The DVM does read in 100volt increments. However the measurement is given in Kilovolts (KV). If your tester says 7.0, you should see the KV sign in the lower right corner.
"7.0" = 7000volts
or
"7.0" = 7KV
"0.7" = 700volts
or
"0.7" = .7 kilovolts
"3.4" = 3400volts
or
"3.4" = 3.4KV
Since the meter does not display 100 volt increments above 10,000volts, you will never see "10.8" for example.
If your tester says "7.0", this means you have 7000 volts on your fence... which is very adequate. In terms of usability, there's not much to it. Just insert the ground probe into the soil and read the display. I usally just drop the ground probe and step on it with my boot. You still get an accurate reading and do not have to worry about pulling on the white wire and pulling it away from the probe assembly.