Over damped Room?

Too much of anything is always a bad thing.  It's easy to get carried away with room treatments.  In my 10x14 room, I just have two panels in the front corners behind the speakers with the reflective side facing out.  A full size futon couch/bed doubles as the bass trap and listening seat.  
Generally, I prefer a live end acoustic on the speaker side and dead end closer to the listening position.

You can definitely put in too much sound absorption and deaden the room.  It can be a fine line where just 2 panels could throw the room into a non-exciting scenario.  If you are lacking bass, try putting in some Owens 703 FRK panels with the foil side to the room.  The foil will reflect mids/high and also act as a membrane to improve bass absorption (although it really is only good down to about 80-90hz).  If you want a bandwidth limited bass panel, try GIK Monster with FlexRange limiter or a tuned membrane trap such as GIK Scopus.

Not everyone believes you can have too deada room. The famous REG tries to listen in a "reflection free zone"