I don't think it would cause any overheating.
Chips, dings, and bent blades can cause vibration and will prematurely wear something out in the lower unit. Any good propeller shop should be able to repair your prop for a good bit less than a new one. I used
http://generalpropeller.com/ because they were local to me in Bradenton. I'm sure you can find a prop shop in your area. They only charged me like $60 to weld up a chip, hammer out some dings, and balance an aluminum prop. I think it was like $110 for a SS prop but I'm sure the cost depend on the amount of damage.
