I have read that the y510p model can be boosted up to 3.4Ghz. Is this safe to do?
To be specific I'm using the SLI model, clocked at 2.4, with 16GB RAM.
Intel built the 4700MQ to run reliably at up to 100 degree celsius.
These CPUs have a default speed of 2.4 GHz but are capable of running Turbo Boost 24/7. Intel also included an overclocking option so you can increase the maximum multiplier by +2 whether 1, 2, 3 or all 4 cores are active. Turbo Boost and overclocking are both features of the 4700MQ.
Intel wrote an application called the Extreme Tuning Utility (XTU). This lets users fully use their Intel CPUs.
The limiting factor is usually CPU power consumption. These CPUs are capable of consuming a lot of power. That's why Intel set a long term TDP limit of 47W. Long term, these CPUs automatically adjust their speed so they don't exceed this limit which keeps them safe.
Most laptop manufacturers equip the machines to include adequate cooling so the CPU can run at its 47W limit.
Some laptop manufacturers limit the speed of the CPU to reduce heat or power consumption or both. Unless you can talk to the engineers that designed your laptop, it is impossible to say how "safe" it is to run your CPU at its full Intel rated speed. Intel has made sure that the CPU will be fine but there might be something else on the motherboard that is being protected.