Motors are a bit more forgiving about a SLIGHT amount of over voltage. In this case, 29.2 volts is technically overvoltage BUT chances are, the power supply will lose a bit of voltage as load is applied to the motor and current demand increases.
The key think would be to limit the current to the motor via the motor driver circuit. Going overcurrent will cause demagnentization of a PMDC motor.
Overvoltage to the motor will raise the rated speed of the motor. If speed is regulate, this will be essentially irrelevant. If run at terminal voltage and with no load, you MIGHT run into overspeed problems.
With proper care and precautions, the motor and P/S should work OK - you'll still need to be careful.