Thanks to all for the comments.
It was more than a few seconds, but not a lot more, I think I made a couple passes before I realized I had hit the depth limit and was rubbing on the plywood. I started smelling the wood and should have stopped right away, as the burnt wood smell became more intense I took a close look and saw my mistake.
I also had some concern of the collet rubbing on the work surface at the high speed and some possible bend or deforming that could have caused damage.
I assumed all was OK but thought I would ask those who know.
Last edited by ABear; 07-31-2020 at 07:16 PM.