If the TRIM limit is set up right, it should be set so that the sides of the outdrive are still supported by the "ears" on the gimbal ring when the TRIM is full up. Going into TRAILERING position raises the outdrive above the "ears" on the gimball ring so there is no side support for the outdrive. All sideloads on the drive when it is above the TRIM limit are transmitted through the outdrive bellhousing (helmet) to the gimbal ring through the pivot bolts. This is the weakest point on the gimbal ring to try to take these side loads and can easily break the gimbal ring.
I don't think I've ever seen a boat that was set up so that it needed full UP TRIM to reach top speed. My experience has been that they'll start porpoising well before the upper TRIM limit.
I would hope that Mercruiser engineered the U-joint angle so that between full down and full up trim they are sized to take maximum engine loads without unusual wear at those drive angles. Up above the TRIM limit (in the TRAILER position) I don't imagine they would last as long at high speed with the radical angle.
Mercruiser TRIM warning: