The root of the reason why over-spinning a bullet CAN (not will) degrade accuracy is because any imperfections in the bullet itself will be magnified more. For instance, if a bullet has a slightly thinner/thicker jacket on one side of the bullet, or any other defect that makes it effectively lopsided, then the higher the rpm's of said bullet, the farther it can be pulled out of the group. So if your over-spinning a bullet, your groups CAN open up vs. a bullet that is spinning just fast enough to properly stabilize, IF the bullets you are shooting are not concentric.
On the other hand, you can over-spin the hell out of a bullet that is perfectly concentric, and will have zero adverse affects aside from increased spin drift.
That is, unless your spinning the bullet fast enough to begin to tear the bullet apart. For instance, I had this happen while shooting fire-forming loads of 85 grain Sierra varminter bullets out of my 8 twist .260 AI pretty fast, they would shoot stupid good, as in .2's with 5 shot groups while fireforming, unless my barrel got warmish. Then they became erratic. But with the extreme spinning rpm's, and the relatively high velocity (3300+ if I remember correctly) and a very frangible varmint bullet, they turned prairie dogs into a pink mist.