Although I have limited knowledge I heard that overfilling might cause higher differential temps and I'm pretty sure that you can have a leaking seal due to high fluid level.
This info is taken from 2002 firebird manual (which is the same as camaro):
“To get an accurate reading, the vehicle should be on a level surface.
If the level is below the bottom of the filler plug hole, you’ll need to add some lubricant. Add enough lubricant to raise the level to the bottom of the filler plug hole."
And this is from 2003 Silverado manual:
"To get an accurate reading, the vehicle should be on a level surface.
The proper level for the 1500 Series is from 5/8 inch to 1 5/8 inch (15 mm to 40 mm) below the bottom of the filler plug hole. The proper level for the 1500 HD Series, 2500 Series, 2500 HD, and 3500 Series is from 0 to 1/2 inch (0 to 13 mm) below the bottom of the filler plug hole. The proper level for the 1500 and 2500 Series vehicles with QUADRASTEERTM (4 Wheel Steer) is from 0 to 1/4 inch (0 to 6 mm) below the filler plug hole. Add only enough fluid to reach the proper level."
Hope this helps. If you have manuals read them more carefully. Silverado info is on the page 5-57. Firebird page 6-27.