Is it bad for a paintball gun if you turn the velocity really high???

i have a tippmann 98 custom and i dont have a chronograph or w/e those things are that measure speed, but my gun isent fireing that strong so then i went in the manual and saw that i have to turn the screw OUT not IN to make the velocity higher.[at first i screwed it in thinkin it will go stronger.OOPS! hehe] so i turned it maybe 3-4 times counter-clockwise, and it seems to be firing alot farther, but since i dont have a chronograph i dont know if the FPS is too high, so i want to know if its bad if its to high??? also what IS too high, and does it use more CO2 when you turn the FPS higher???