If you have an engine management system like the MGL EMS units that monitor CHT, EGT, RPM etc you can see the engine cooling at higher revs. A 503 should be able to run happily at 6500rpm all day

albeit at 22 liters per hour

. Obviously the 6800 should only be used for 5 minutes.
Over pitching the prop gives you a better cruise, but worse climb. Also it labours the engine unneccessarily and increases wear. However a better cruise means little on a trike when the wing governs the max speed you can cruise at anyway.
If you add a fuel flow meter you will see that overpitching does not save you fuel. If you cruise at 5800 with a fine prop you will burn say 15l/h, at 5300 on a course prop you probably would use 16l/h because you are labouring the motor.
My little short wing Challenger was set for 6250 static. I could cruise at 60mph (5000rpm) and use 10l/h and 75MPH (5800) and use 15l/h