If it's D3 produced naturally in the skin when exposed to a UVB light or outside in the sunshine, no, because they can regulate how much they make. But if it's dietary D3 supplement, then yes. Too much can interfere with calcium absorbtion and end up causing similar results as metabolic bone disease.
Too much of it will start affecting the nerves and muscles, and more severe toxicity will start to affect calcium levels; calcium will be highly elevated in soft tissues, such as muscles and kidneys, and begin to actually calcify these tissues, while debilitating the bones.
This is why we want to provide plain calcium supplement more regularly and rely mostly on a good UVB bulb to provide D3. And then use the D3 powder supplement as just that, a supplement to fill in any gaps. But we don't want to rely on it too heavily.