The pressure relief in the loader valve would open in this case to momentarily protect the pump and the engine will RPM will decrease. This would be no different than going to a dirt pile with the loader, pull back on the lift and nothing happens because you have too much weight in bucket.
I'm not sure this is quite right for the Bobcat tractors. I had thought that that the FEL valving was separate from the rear hydraulic valving, so the relief on the loader valve block would not pop. That having been said, I would be a little surprised if the rear hydraulics (at least with the official Bobcat kit) did not have a relief valve.
Oh, and as far as "nothing happening" when you try to pick up too much in the bucket, unless you have ballast weight on the rear, what actually happens is that the rear wheels lift off the ground! Not a good thing, and an easy way to flip the tractor over.