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I've overridden a view exported by a feature module, and while I'm able to create an override component for it, when trying to export a feature that contains that component or attempting to edit that component, I see in my PHP error log "[02-Feb-2011 05:01:31] PHP Fatal error: Nesting level too deep - recursive dependency? in /Users/ezra/Developer/...sites/all/modules/contrib/features/features.export.inc on line 444" and see formatted output, presumably of the exported component object, but no rendered Drupal page output.
The same error appears in the PHP error log when viewing the admin/build/features page, and the ajax "State" indicators never update, presumably because Features is unable to rebuild.
I suspect this has to do with features_override's ability to set or recognize FEATURES_OVERRIDE_RECURSION_MARKER in the override component.