I need it for 3 65-watt LED bulbs in recessed ceiling cans. Does this exceed it since it says 150 watt OR it means per bulb?

The LED bulbs are probably 65-watt *equivalent* (as in, they put out the same amount of light as a 65W incandescent would), while actually using around 11 watts each. If using 11 watts each, your total load would be around 33 watts, well within the 150 watt specification.

I'm quite sure the 150-watt limit applies to the total load; all three lamps. However, I suspect you're using the incorrect wattage for the LEDs. A 65-watt LED would be extremely bright (and unusual.) I think the 65-watt number you reference is actually the equivalent wattage an incandescent lamp would require to put out the same amount of light. Somewhere on the lamps or packaging,it should show the actual wattage and it's likely to be less than 15, so your total power is probably <45-watts. Our 100-watt replacements use only 11-watts each. We've got five and they work fine.

This product is rated to handle up to 150 watts of true LED wattage. Most LED bulbs have both a true wattage and a wattage to compare to older style incandescent bulbs. As long as the combined true wattage of the bulbs is 150 watts or less, then this dimmer should be able to control your lights properly.