I was worried about this when I turned it on myself, but under the usage panel it shows that it limited my spending to just the $50 and that auto-reload is off, so it doesn't seem this would be the case.

I turned on this overspend and limited the spending to $20. A day later I checked my spending, I had used "295%" of my limit. Almost $60. No idea why it didn't respect my setting.

There is also an Auto-reload option, I think it is off by default.

The underreported story is how we over-trust human-coded software.

Too true, lets not trust any software.

most slop is human slop, who do you think claude learned from :)