Let me try to answer these:
First, regulating the flux is really regulating the motor shaft torque. In order to regulate the torque, you need to identify the torque. This is done by resolving the two vectors in the motor current. There is magnetizing amps, and at 90 degrees to that is torque-producing amps. The hypotynose of the triangle formed by these two vectors is total amps as measured in the motor leads.
The drive can measure the total amps and knows the magnetizing amps from the motor ID run done when the drive was originally commissioned. It can then solve for the torque-producing amps which, when compared to torque-producing amps at full load, gives the % torque loading. Knowing the % torque loading gives you the % flux intensity.
Second, I'm not exactly clear on your question but, if you were asking why the voltage cannot be increased above nameplate when the frequency is increased above nameplate, thus maintaining the available torque, the limiting factor is the voltage-withstand capability of the winding insulation. Raising the voltage above that level simply results in insulation failure and a damaged motor. If you question is why frequency cannot be raised above nameplate, you have been misinformed. Frequency can and often is increased above nameplate with the limit being the maximum mechanical safe speed of the rotor assembly. In practice, the maximum practical overspeed is the point where the torque is falling off faster than the speed is increasing. This is the maximum speed at which constant hp is maintained and is usually the upper practical limit of speed. As long as the system is designed to deal with the falling torque as the motor ranges above base speed, there is no problem and several advantages to doing that.