Overdrive will not go in to gear

It sounds like your clutch is slipping. Need to replace complete clutch kit.

The overdrive will only come into use when the transmission module reads the correct revs/ road speed ratio. Switch if off for heavy city traffic driving to improve economy when it moves up and down all the time. No it will not harm the transmission otherwise.

having the transmission rebuilt in 2010 means that the tranny is 7 years old since service so there can be any amount of faults
run the fault codes to check for problem TCM, VSS, servos and solenoids
check the vacuum actuator for the transmission and vacuum lines
change the transmission oil
the engine light also reports on transmission failures

Inside the transmission.

Does your gearshift have four gear positions? If it does, then 4th gear is overdrive. To leave overdrive, simply shift to 3rd gear.

Driving in overdrive should not destroy a transmission. Just keep an eye on the fluid level.

check power going to reverse shift solynoid and check neutral switch

you need to make sure your trans is shifting to high gear. if not thats why your rpm's are to high.

When this happens to mine, i will stop then put the car in idle. move the shifter to reverse then to first, then second gear, then into park. and then repeat. This fixes mine. It happeny s about every five thousand miles or so.

I had the same problem, so I had the fuel jets cleaned and put a in line filter in. I got the power back and I have not had the problem again.