220bpm - age is a load of rubbish - according to that calculation my max HR would be in the 160s whereas it is 197bpm. The only way you'll know max HR is by testing it under proper conditions - and it's worth knowing your RHR too, to see the correlation between the two.
While your wife is obviously fit, it probably wasn't the best time to use the HRM for the first time as it's difficult to know how accurate that figure was. It seems pretty high to me, but that could have been caused by a number of factors. If she recovered well and normally afterwards, then I'd say that it was some form of glitch. If she is considering using HRM, then it would be worth reading up a bit about it and using it on a variety of runs and recording the different results, as JF50 says, concentrating on average and ignoring (obvious) spikes.
The one thing about HR is that it varies enormously from one person to the next and is not determined by age, level of fitness etc, it's genetic. You can have two people of similar age, height, weight, level of fitness etc but with completely different HRs. The only thing that you need to consider are the changes in your (or your wifes') HRs.