I don't have any specific knowledge, but from the looks of it, each of the sub-sections of the cab is wired to be 4 ohms, hence the 4 ohm spec in biamp mode. When you run full range, they put the two sections in series which adds the impedances for 8 ohms. If they were in parallel, this would be 2 ohms, but that's bad for some solid state gear and impossible for tube amps.
When you plug in on the full-range side it's probably passing the full-range signal to both halves of the cab. Four 10s are a perfectly good bass cabinet, so there's no problem with either half handling the full low end. The tweeter probably has it's own low-end protection all the time.
I also agree with the general consensus here - you should be good with the amp generating much more power than the cabinet is rated for. You can blow the drivers if you crank it too much, but this is a quality cabinet - you'll know it's not sounding good before things start melting down, so just don't go there.
I've got a Marshall 1960 cab which is switchable to running two stereo pairs. I've never used it that way, but you can plug into one jack and it's 16 ohms mono, a different jack and it's 4 ohms mono, or flip a switch into stereo and each jack is 8 ohms and two speakers. You flip the output selector on the amp to match. I try not to be the jackhole though.
David Fung