Actually no. The processor is made to shut down at 125c. I think that the thermal settings are governed by apple though. So at 90c it slows down and fans turn on high speed. Mine never went past 89c so that is my theory. The cpu for sure will shut down at 125c though. Check it.
I was using HandBrake on my C2D MacBook the other night and my CPU temperature made it up to 94c.
I was freaking out as I'd never seen it get that high before. It definitely can't help the longevity of the CPU to run at those temperatures for very long or often.