That is a bit dramatic. If you look at the worst case, say 50% above CCC of one leg then you are looking at 50% extra (x 1.5) on just one conductor of that leg, so instead of I2R heating of 125% more (1.5 * 1.5 = 2.25) you are looking at more like 1.625 more heating, and from the usual 30C to 70C cable design that puts your conductor probably just above 95C.
Is this good for the cable? Clearly not, but it is far far away from starting a fire. In fact it is well below the 160C upper limit taken for adiabatic heating without cable damage (e.g. Table 54.3) so what you are looking at really is a loss of useful cable life.
I have no idea what the factor needed for the Arrhenius equation is for PVC cable but usually it is a halving of component life for every 10-20C increase in temperature (assuming nothing dramatic happens like a fire!) so taking the cable on the faulty RFC as running 25C above specification you are looking at probably a quarter of its nominal 25 year life.
But who can afford to run their RFC at 32A or so for a long time? At today's cost that is something like 2 grand a month electric bill!
So in reality that ~6 years cable life is going to stretch out over a couple of decades as probably the high temperature is only for tens of minutes per day, not 24/7