ive seen problems with aluminum flywheels losing ring gears and not keeping torque to the crank, but that's about it.

i run a chromoly jun flywheel in my car, its a bit harder to launch , but its definately worth it.

i think youre in more trouble if you overheat an aluminum flywheel than a steel, but as long as you dont slip the clutch too bad on either one , you should be fine.