MAX7219 not behaving as expected
Looking at your library source, it seems the number of devices is clamped at 8. This isn't a hard limit imposed by the chip but rather practical design. SPI, especially at high speeds, can get unreliable when the bus capacitance, related to the cable lengths, gets so high that signals are skewed beyond recognition. Also the buffer in the library used to hold the row data is 64 bytes in size, intended to hold the data for 8 devices with 8 rows each. 

You can edit the library to make it support 12 devices though it will require attention to detail like, increasing the buffer to 96 bytes, getting rid of short-circuits within the methods that make sure that no more than 8 devices can be addressed, for-loops, etc.