Yeah, CF hits on the main point here. Seawater chemistry is all about balance between calcium, alkalinity, and magnesium (hereafter "the big 3"). If the big 3 are in balance, things are good, even if that balance is high. As Ox mentioned, calcium of 450, alk of 9 and a magnesium of say 1330 is a nice balanced chemistry. Each value is higher than that in NSW, but because they are a similar percentage higher, the chemistry is still in balance.
What CF mentioned with really high calcium and low alk (probably also low to average mg) is very unstable chemistry. As CF saw, you get precipitation reactions pulling mostly insoluble calcium carbonate out of the water column and making it into small solids. This change can happen RAPIDLY, crashing the pH and making the water milky white. This is of course bad but not really the end of the world. Aeration and time will commonly fix cloudy water from a crash due to an overdose of calcium or alkalinity.
The one thing I haven't discussed yet is Magnesium. It's role in seawater chemistry is complex, playing a part in many processes. Without going into the details and trying to keep this understandable to those without a chemistry PhD, Magnesium serves to keep seawater chemistry more stable. When mag is high, precipitation reactions are less likely to occur, AND calcification (making coral skeleton) is boosted. When mag is low, obviously the opposite is true.