I don't think it's possible to overoxygenate the water like that. When the bubbles from the statue or bubble wand break the surface, what happens is it causes the oxygen levels in the tank to balance with the atmospheric oxygen level. The bubbles in the water actually very little, almost nothing, towards upping the O2
level, it's moreso the breaking of the water surface that mixes the gases in the tank with the gases in the air around you.
Heavily planted tanks are a different story, in that you can actually saturate the water with O2
. When you hear of people talking about plants pearling, that's what's happened.