Some questions before overclocking TP2

[Fr3nZy]

So I got an extended battery now and want to try overclocking my TP2 but I have some quick question I can't find answers too. I'm going to use OCT.

1. Does overclocking exceed the design specs of the Qualcomm 7600? Or is the processor simply underclocked to 528mhz to begin with?
2. Other than the extra drain on the battery, will it adversely affect other hardware? I've heard of it being to cause of some SOD cases.
3. Is one overclocking app safer than the other?

My phone is a 1 month old replacement/refurb so it's kinda prestine. It has to last til I get a Phone 7 cmda phone next year. I don't want to send it to an early grave