OD is not a gear, it's a band (kevlar, I believe). As it wears out, your tranny will slip while in OD when you apply too much gas. Eventually, the OD band will not hold and OD will constantly slip; effectively "losing" OD.
When you go WOT while in OD, you are putting stress on the OD band until the tranny downshifts to 3rd. I would also presume you stress the OD band if you are at WOT and the tranny shifts into OD. I could not tell you how much stress, however.
I'm just glad I have a T5 now. One less thing to worry about.