The governor is just a couple of matched weights opposite each other that spin around a shaft. They are connected by linkages to the rack. The linkages are also connected to the throttle. As the pump spins faster, the weights fly outward, away from the shaft. As they do, they'll pull the rack back to reduce fueling. But, as the engine slows, the weights move closer to the shaft via the springs. This causes the rack to move forward and increasing fueling. Your foot on the throttle just adjusts this sequence up or down the fueling range as needed.
The spring kit (which contains stiffer springs) simply force the weights to stay closer to the shaft in the upper rev range allowing the rack to continue to provide fuel to the engine at higher revs than the stock springs. Why it's called a "3K" kit is unknown, but you should be able to get 3500 revs +/- out of your engine before it begins to defuel with the kit.
At least, that's how I understand it!
-Jay