In all reality, I dont think you can have too much light over a tank. The problems stated earlier are issues, but are more related to light acclimation of indivdual corals, rather than "too much light". For example, corals from a lower light environemnt that are put under a 400 watt can likely suffer from bleaching, O2 toxicity, or similar. However, for a lagoonal acro, this may not be enough light. Furthermore, more light usually translates to more heat, but we all know there are ways to counteract this.
The whole watts per gallon rule is something I wish could be expunged from reefkeeping lore. It is totally misinterpreted and misapplied. The concept that needs to be applied is light intensity, not watts per gallon. For example, put two 175 watt MH over a 100 gallon tank- this is 3.5 watts per gallon. Now put 3 150 watt incandescent bulbs over the same tank- think it'll work? No way-even though it is the same watts per gallon. If you dont believe me look at a MH bulbs, and if you can get your eyeballs back into your head, look at an incandescent after that.
To add to this, how is a 400 watt illuminating a coral 5" below the water surface 500 gallon tank any different from a 400 watt illuminating a coral 5" below the water surface in a 10 gallon?
There are people who keep corals in outdoor tank to get natural light from the sun, why do these corals thrive? Our lights are efforts to mimic the sun, so I dont we can make or use lights that can overdo it as a rule. Maybe for specific corals, but not as a rule.