to expand on or 2nd concretemasonry's post. They should be soaking the aggregate well and this water will be evaporate out much later similar to how moisture vapors pass through your basement slabs. the lightweight aggregate gets hardcore soaked because most LW mixes are pumped. If the agg isn't saturated, slump loss can be huge b/n the truck and the end of the hose. The pressure from the pump mechanism fills the porous air voids in the aggregate with your convenience water. i've seen this just kill a concrete pour over and over again as they have to break down the whole clogged pipe system while trucks buildup. On one pour, we did testing and another company was doing Special Inspections. The SI was absolutely flipping out about all the extra water (40+ gals./truck) being dumped in the mix to get the stuff to come out of the hose (<4 slump). The cylinders broke well (taken from end of the hose, of course). We had a few jobs where air-dry cylinder testing to confirm the unit weight was specified (don't have the ASTM handy). The air-dry test should cost you an extra 2 cylinders/test and maybe some lab time if you spec it. On these jobs, we would always do field unit weight testing. A 4 pound drop between the wet and dry unit weight was pretty typical.
But you should know that the entrapped water lb-loss number all depends on how porous the lightweight agg is which is regional. it isn't loss during delivery or placement. it's lost after a couple of weeks.
All that being said, reject it. you're owed a good submittal. What if that 120 pcf number IS based on dry aggregate? Then it could be showing up at 125 wet.