i don't believe that at all. pull in your clutch lever and crank the throttle all the way. see what happens...
with a 44 tooth sprocket, it'd be easy to wind it up to the max revs. i've done it with a 36, a 32, a 30, and a 28. the 30 and 28 was flat out downhill, i still had to back off the throttle, because it wasn't going any faster.
despite what a lot of people say, you can get these motors to top rpms when gearing lower. a lot of it depends on weight. i'm 135lbs, my bike's probably 60lbs, and i can pull away from a dead stop with a 28. slowly, but i can (although i usually pedal off the line.)
my bike accelerates to top speed pretty quick, and it won't over-rev on flat ground.
since we don't have any specifics of how his bike over-revved we don't know the real facts.
i'm sure if you sat there with it in "neutral" and just gassed it, it'd probably blow after awhile. same thing with a 44 tooth and a downhill.
and there's NO way he got to 40mph with that 44 tooth, under the engine's power. it's just not possible. it's a matter of gear ratio. even with the best carb and exhaust, the motor still won't turn that fast. it'll accelerate faster, but won't increase top speed.
with the limits these motors have on horsepower, the only way to get faster is lower gears, less weight, and less drag.