Ummm... I'm going to try to explain this the best I can, this late...
Since subs are highly inefficient, distortion doesn't affect them that much since they're already converting a lot of the power into heat anyway. Overpowering will. Tweeters are fairly efficient (~25 percent), thus distortion affects them more. So the answer to your question is yes, although you'll see a lot more speakers blow from overpowering than from distortion.
Underpowering does not blow a speaker
Pushing a weak amp into clipping no where near driver power handling will not blow a speaker
Clipping WILL, however, blow an amp...