your 1st and most noticeable problem with to much fuel is the stutter, high fuel consumption and you will also notice that the plug gets fouled very quickly.
Also, a lot of carbon build-up is taking place in the combustion chamber and exhaust side.
The major problem comes from the fact that the rich condition is killing your spark on the plug, hence the splutter. during that splutter, unburned fuel is deposited on the sleeve walls and that fuel is diluting the oil that is there to help lubricate the rings. the fuel also work their way past the rings, which ends up in the crank case where it dilutes the oil even further, reducing the oils lubrication.
Depending on how much fuel gets past, you can either have a lot of ring and sleeve wall wear, plus other components that run under oil pressure, like the cam, crank bearings and so forth, can also wear out much quicker than what it is suppose to.
Overfueling is a silent engine killer, one day, you see the tell tale smoke at the back, and when you open the motor, it is serious money to repair all the damaged parts. All the moving parts wear down slowly but surely with the fuel mixed with the oil.