No, you cant overdue it. As long as your cables from your alternator to battery and grounding cables are big enough, you cant overdue it, your just spending extra money that you don't need to. An alternator has a voltage regulator that keeps you from overcharging.
My only guess as far as why they don't make a larger size is: the market is not there to try to put those extra thousands of watts in a gs300. After all your possible vehicle electronics, a 240 amp alt has..... what... about 2,000 watts for a stereo. a 320 amp alt 3K-3.5K???? You can always find local companies that rebuild alternators for a special requested size, but I wouldn't think there is the need for that many for your make and model. You brought up mechman, I'm not going through there product catalog, but I'm sure the largest of alternators they sell are for engines that come in larger trucks and SUVs, (that have room for larger setups).