Overheatin is typically a symptom of poor cooling circulation. Check with Acer if there are any known issue with your laptop, and also make sure all the cooling featues and fans are enabled in the BIOS and in the OS.
If you overclock, then that might explain this behavior as well.
The processor is designed to shutdown when the tempreture goes above a certain threshold. It is unlikely that you can damage the processor due to high tempreture. It is possible to have other components sustain damage though.