I'm glad my answer made sense
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I'm only guessing, but I think this suggests that your Klipsch speakers have reached their limit. Apparently they are built well enough to briefly survive power levels that high without failing. You should consider yourself lucky that your Yamaha has good overload protection circuits. They saved your speakers. Other (unnamed) AVRs have been known to blow out speakers when they overload.
Now that you explained the background, I am more certain that your speakers are the limiting factor, not your receiver. Without measuring your speakers, I would guess they have a sensitivity no greater than 83-84 dB. When you turned up the volume, they reached their limit.
Remember that speaker sensitivity is measured as how loud they sound to a test microphone 1 meter away, when they are given 1 watt (or more correctly 2.83 volts). You probably sit further away than 1 meter, more like 8-10 feet away from the speakers, so that 1 watt signal will be quieter. If you have a SPL meter, you'd be surprised how loud 91 dB is.
My comments about speaker sensitivity are general, not specific to yours. Most small bookshelf sized speakers (2-ways with a 5½" or 6½" woofer) have a sensitivity of about 83-85 dB. MTM speakers, with 2 similarly sized woofers, are about 87-89 dB. Large ruggedly built PA speakers, used in large auditoriums, can be as sensitive as 91-93 dB. Many commercial speaker makers exaggerate their sensitivity numbers because they know most buyers believe louder is better. Klipsch does build some good speakers, but they are also one of the well known exaggerators of sensitivity.