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Yes, your coworkers aren't your therapists but when those signs manifest, you'll start being complacent and the chances of your performance dropping are higher. You'll end up in your employer's radar when you aren't performing to previous standards.
Pro
I would hope the signs would never get noticed, if the did and could easily be explained for other reasons. Perhaps a newborn or change in family dynamics.
I laughed out loud at this because these are like the key signs of burnout for employess that are only working full time. I definitely don't think this is just a sign of overemployment because there is really no way to know for sure hahaha.
Pro
Exactly why I asked this question! I was wondering myself why an employer would automatically assume overemployment rather than burnout.
No doubt there are a ton of different factors that could lead to any of those ‘key signs’. Being overemployed is one of them sure, but I do not believe it would be the go to one for the most part. Unless you are specifically working with somebody that is trying to ‘catch you’ in it.
Pro
I agree with your premise and I think staying on your toes to avoid detection is the most important. Once you let your guard down, it may not matter what you tell people.