I tried it, but I prefer high framerates to high draw distance so I went back. That said, if you’re happy with say 40-45 fps (with peaks higher during easy scenes) where you’d otherwise get maybe 60-70, you could certainly increase the LOD beyond 200.
I had a pretty nice flight with ObjectsLoD 9.0 over London. More stutters than usual, but absolutely playable, and with a FPS limiter to 30 it might have been flawless in terms of stuttering.
The file to edit is Usercfg.opt located in the LocalCache directory (a few levels up from the Community folder which is in LocalCache\Packages\Community).