My bgl does that spike and plummet thing, Becca - quite often it goes up to 14 or 15 an hour after eating and then I'm hypo an hour later. And it's all very random, some days it happens, and other days with the same foods (I have a very limited diet because of food intolerances so it nearly always is the same foods) it doesn't. I'm not sure whether I have Reactive Hypoglycaemia or whether it's just my autonomic dysfunction meaning my digestion doesn't work properly, but whatever it is, it sounds as though you may have similar problems. You may well have been 14 an hour after meals before without realising it, you just weren't testing as much.
The good thing is, now you know what's going on you will be better equipped to deal with it - if you do hypo again you'll recognise the feeling immediately so you should be able to treat it quickly before it gets too bad, like you did when you were 4 today. And the walking and drinking water obviously worked for the reading of 14, so you know what to do if that happens again too. It's exactly what I do when I get a high reading too, loads of water and a bit of gentle exercise - if it's too late to go out for a walk or it's raining I'd do some dusting or trot up and down the stairs a few times. I also find relaxing (lying down, doing breathing exercises or something like that) lowers my blood sugar, and so does a hot bath.
Being 14 all the time would be a problem, but the occasional 14 shouldn't hurt you. Rapid spiking and plummeting isn't good though - so you need to try to control that (I know the feeling!), and it really does sound as though you're going about it the right way.