It can handle it but like Greylocks says, you'll be wearing things down fast and you chance stripping the piston. I had to replace a CA249 piston after someone used a 9.6V 4200 mAh on it and it stripped. I've seen CA M15A2s handle a 9.6V 1200 mAh but with the higher discharge capacity of a 3300 mAh Sub C cell you'll get an even faster rate of fire. An 8.4V should be more than enough. FWIW, I run mine on a 7.2V and get close to 900 RPM.
You won't blow the fuse with a higher voltage battery because the fuses are rated for 12 volts. It's the amp draw that kills fuses and the higher your voltage, the more efficient your motor will be and the LESS amperage you will draw.
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