FWIW
in testing i have placed '000's of bets less than 10c
not lays - but "backs"
i am using gruss maybe thats not through the api

Over what period of time Aussie?
I know I only had a few small bets under $5.00 and got the warning email.
Maybe they have changed the rules with the new API.
But I'd have to confirm it with them, as their warning email was quite stern.

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over a couple of weeks back in feb 2014
i did cop an excess usage charge of about $6 i think for having over 1000 bets per hour.

They only hit certain punters with the warning emails. At least one of the criteria is being in profit with them. I didn't get hit till I was having to pay premium charges and had stayed off their radar up until that point.