Overtravel alarms on our Aida fall into three buckets, in order of frequency:
The most common is operator-induced ??somebody bumps the slide jog past the soft limit during setup, or the die cushion was set wrong and the slide hits the lower stop on the return. Resetting the position reference and re-homing usually clears it. If it comes back the same shift, it's not operator error, keep digging.
Second is mechanical ??counterbalance pressure dropped overnight (check the gauge cold first thing in the morning), or the brake is slipping a few degrees after stop and the next cycle's reference is off. We caught a leaking counterbalance solenoid by paint-marking the slide at TDC for a week and watching the mark drift.
Third and worst is encoder/drive ??usually a marginal Drive-CLiQ or encoder cable that throws a position deviation just big enough to trip overtravel rather than a clean encoder fault. The diagnostic clue is the alarm only happens at high speed or after thermal soak. Swapping cable first, encoder second, drive last has been the right order for us.
Whatever bucket it's in, do not just reset and run. Document the position reading at the alarm ??that number narrows the cause faster than anything else.