Your R8 collet is driven by a little pin in the spindle. It is about 1/8" in diameter,and bears against the groove in the R8 collet's shank. It is possible to shear off that little pin and really screw up the inside of your spindle when that hardened pin goes round and round in it. Think about that when considering overloading an R8 collet.
You can also have the pin beat itself into the side of the groove in the collet,making it nearly impossible to extract the collet from the spindle. I had that happen years ago while using the right angle attachment on a mill at work. Subsequently, I removed the pesky pin from the machine at work,and never had a problem with the R8 rotating in the spindle. We always tightened the draw bar well. I'd like to remove the pin from my mill at home,but haven't been able to unscrew the ring that covers the set screw over the pin. My right angle attachment had been used a lot before I got it,and already had had the pin beat into its groove's side. I had a job of it getting that blasted attachment off the mill!! You do not want to have to do that job.
That is an expensive hogging shell mill. You ought to sell those.