Well, my friends,
I tested the question at hand last night. We were in hurry-up mode so I selected Vmo and the speed stabilized 5-6 knots below. Then tried selecting above Mmo to see what happens... no change.
We've been discussing it around the office and everyone agrees that this is what the aircraft does, but no one can find a reference as to why.
Try it next time you're out and let me know if your aircraft does different.
Cheers,
AKAAB