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My question too, barfing out the vent and (possibly) foaming are the only negative consequences to overfilling.

Foaming over a long period can cause internal damage but modern fluids have pretty efficient anti-foaming agents. In a somewhat well publicized stunt on another forum I poured a quart of fluid into a mixing bowl and stirred it with a hand-held electric mixer; no foaming.



Plus a little-bit o' horsepower loss ! ... but other than that ....? ... nada !!