Yeah I think the only way to know would be to look at the schematics for the MDD. Some of the schematics for other G4 computers have resistor configurations for unused higher bus speeds. Unfortunately, it doesn't look like anyone has leaked the MDD schematics yet.
Though it may be wishful thinking, I wouldn't be surprised if the IC supported a 200MHz bus, since by then the 7457/7447 (which supported a 200MHz FSB) were just around the corner, along with DDR PC3200 featuring 200MHz support as well.