Yeah there should be a stable voltage give or take some amount of ripple. The output is pulsed at 62000 times a second and the feedback measures the resulting voltage and tries to reach the target voltage by varying the duty cycle so if the feedback isn't working properly the output will jump all over.
Especially at the rightmost circled pin at the ATmega, that should be pretty noise-free.
How fast is it changing voltages? Once a second, many times a second, once every few seconds? I'm not sure what else to check unless there's some sort of bridged connection or something causing the feedback to be all loopy, or the output to not behave properly.