It will undoubtedly shorten its life, and I can't guarantee it won't die on you, but as long as it is at ok temperatures (and, IMO, at a high enough speed to warrant that VCore) then I guess it's ok. I used to overclock my 1700+ 1.5vcore to 133x12.5=1666mhz, limiting myself to 1.65 VCore, but now I don't overclock anymore because I prefer peace of mind.