Finally solved the issue the spindle parameters in the Fagor 8055 controller needed to be changed, 4 parameters called MAXGEAR1, 2, 3, 4 were set to 24000, that info relates to the 0-10vdc reference voltage sent to the vfd.
So if number is 24000, and I input 24000 it tells CNC to send the 10vdc signal which represents the max freq possible on vfd, in this case it is 400hz with 4 poles. As I know is just 12k rpm.
Changing MAXGEAR parameters to 12000 now matched the speed the spindle was actually spinning in the first place. Fagor controller screen shown below.
Now I am looking for a 4-pole, 400V, 800HZ VFD any suggestions?