Too much water will cause a problem. I assume that the part under the misting nozzle is closest to the top of the plant. It is usally the first to go. It is choked off.
The reason plants affected by too much water is that plants need to breath. They breath through their roots and when there is too much water, the roots cannot take in gases. It is actually slowly suffocating when there is too much water for a plant.
Symptoms
Lower leaves are yellow
Plant looks wilted
Roots will be rotting or stunted
No new growth
Young leaves will turn brown
Soil will appear green (which is algae)
Edit : Water should just roll off the leaves. It will not hurt the leaves from the misting nozzle alone.
this is a good thread, i am having the same problem with my scheffelera too. i guess then i need to move my misting nozle's to the back of the cage instead of directly over the plant. good info