yes, the distortion you are witnessing is due to to much resonance.
as you know resonance is really just volume boost, but around a specific frequency, and the synth does not impose any limit as to how much you can boost.
And yes, this means that you can expericence distortion/clipping when using lots of resonance. Sometimes, you can get around situations like this by putting a compressor in the chain just after the filters, and even get something useful out of huge reso boosts.
for that specific patch, turn down the reso level in filter1 and it sounds fine.