Quite simply, is the RAM module responsible for generating its own operating voltage or does it just run at whatever voltage the motherboard is providing?
I am imagining that it could either communicate its need to the motherboard which regulates to that voltage, or internally switches to generate the required voltage from whatever source voltage it has access to.
If the motherboard supplies a fixed voltage, what limits are there on compatibility in the 1.35-1.5V range? i.e. 1.5V supply to 1.35V RAM and 1.35V to 1.5V RAM.