I would weigh risk vs. reward here.
The m-x1400 is not an overly powerful video card and overclocking it really won't give you much gain, if any at all. So your potential reward is not very promising.
Most mobility radeons run pretty hot. Overclocking it will only make it run hotter which in turn will make your entire lappy run hotter as the cooling properties of a laptop are spread out through the entire case. Unless you're prepared to crack open your laptop and enhance the cooling properties of it (AC5, better airflow, more heat sinks, etc.) you will most likely start artifacting very early on, and possibly causing the entire system to throttle itself (cpu) as a result. As I said already, it's not just about your video card running hotter but your entire unit as a whole.
As a side, I've overclocked mobilitys before just for the heck of it... and I never saw more than a 1-2 fps difference in exchange for a lot of heat. And in some cases, the performance was worse than before.