So I've hit the 200 cap a few times now, but today I logged in to find this:
What's the dealio, here? Has the rep been adjusted?
Looking at the respective page in the help center, it says:
You can earn a maximum of 200 reputation per day from any combination of the activities below. Bounty awards, accepted answers, and association bonuses are not subject to the daily reputation limit.
And in fact you have an accepted answer in your reputation changes this day, that's why you're over 200 (and could as well have had another 5 points till the limit).