I think that you might be confusing two possible definitions for overfeeding. More or less it's a usage thing. Overfeeding the tank as a whole leads to waste/nitrates because of uneaten food. But your title question is "Is it possible to overfeed LPS"? In short, not really. For most LPS, if it is full it will either not extend it's feeding tentacles or drop the food or the food won't adhere to the tentacles. But then you seemed to ask if there are any negative effects for the coral if you overfed the tank. Well, depending on your parameters, probably. Some LPS like nutrient rich waters, so in a nutrient free tank, this might actually help. But if there are too many nutrients, it will stress the coral. It would be fine to feed your Candy Cane on a daily basis, but I highly recommend using a tool to direct the food such as a turkey baster. That way if you see that the coral is full and not accepting food, then you don't have to feed all the food in the turkey baster.