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No, To much sleep will not pose health threats. However, increased need for sleep could be due to a health issue. Each person is different and requires a different amount of sleep. There is no certain amount of sleep that is bad for, beside no sleep. Worst thing I can think of is it would be hard on your biological clock. Studies prove that people with a sleep schedule, say bed at ten up at six, feel like they have gotten a better sleep and in general have better brain function.
Yes it's very bad for you. See Circadian rhythm on Wikipedia. When you go to sleep late, you throw off the entire cycle. Your body compensates with a stress response. Over time the stress takes it's toll. You can search PubMed for research on night shift workers to see just how bad it is. Hint: it's really bad.