Regardless of selected Load-Balancing method, if one traffic flow (e.g. src-dst-ip flow) bandwidth exceeds bandwidth of one link in bundle, will it cause packet drops ? In this case(if drops): is it possible to distribute residual load with other links ?
Yes it will cause packet drop. Load balancing does not take into account load.
If one of the links in your bundle gets filled with traffic, SRR will tail drop the packets.