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The biggest problem with overfilling, from a safety point of view, is the trans vents fluid out the top of the trans. It then dumps on the hot exhaust. A fire is possible. My friend just lost a $10,000 truck because of it.
The other problems are foaming, or aerated fluid. Clutchpacks don't like too much air in the fluid.
Long story short, remove the extra fluid. Slightly low is better than high.
I know you wrote that your, "auto tranny fluid is reading well over the "Fill" line on the dipstick, under proper checking conditions", but because you are new to the Forum, I have no idea how much experience or knowledge you possess. Forgive me if the following is a stupid comment, so please do not be offended, but I do not know your level of expertise. Don't forget that when checking transmission fluid, you must check the vehicle with the car running and after it has gotten good and hot. If you check it any other way, you will get erroneous readings.
Also if you don't know you don't need to drop the pan to remove fluid. You can use a tube pump down the fill tube or is equipped, disconnect the top transmission cooler tube at the top passenger side of the radiator. This is very easy to do, put a hose on and put it in a bucket. Run the car a few seconds, done.