In the latest version (for 1.5) and possibly earlier, wooden pipes will stop accepting energy when they have stored power. Power will then build up in the engine that feeds them.
The effect of this depends on the engine. Stirling engines will probably explode. RC steam engines will sieze up. Combustion engines will keep running, waste fuel and not explode (provided they have water).
I noticed this too on my new server. It's really convenient, because it allows you to use the internal buffer of some engines as a kind of small battery. When I just started out with a hobbyist engine and a few small machines, it wasn't uncommon for the (really long-burning) engine to produce more energy than I needed, which would then accumulate inside it and be there for me when I returned later.