Ran across this old thread and thought I would throw in my 2 cents...
YES, skis can be too "sharp", even for racing. However "sharp" means more than one might think. If you happened to watch the broadcast of the WC SG at Beaver Creek/Birds of Prey, December 3rd 2011, it was mentioned several times. The snow was very grippy. In his interview after the race Bode complained that his set-up was wrong/skis too sharp. He said between Lake Louise and BoP they didn't have much time, but you could tell he was pissed it didn't get done. During the race the broadcasters commented about some racers skis being too sharp and that the WC doesn't ski very often on grippy snow like that and the racers that had their skis set up right had an advantage.
When Bode was talking set-up/sharpness it is more than just edge sharpness - it is tuning and bevels. My guess is that with the desired set-up/tune for grippy snow the edge itself is probably as sharp as usual underfoot and on the length of the ski but tips/tails are detuned and edge & base bevels are different - with more base bevel and less side edge bevel to prevent the ski from being hooky and grabby.
So as Slick Willy would say, "it depends on what the meaning of sharpness is".
A slightly softer flexing ski can be faster in soft snow as well. The softer ski will not burrow down into the snow as much.
Gotta go - time to get the flouro flowing for this weekend's races!