It hasn't happened to me (yet), even though I"ve pushed the RPM to where I could feel the acceleration begin to decline.
But with my last car-2010 Camaro V6, after I supercharged it I was a little too late with the up shift and hit the rev limiter- thought I'd done something really bad (expen$ive!). It made a helluva crack/pop/backfire sound, LOL.
But she stayed in one piece. Make sure you're shifting soon enuff- it gets easy to get lost in the sensation!