Yes this is a common message on catos . It means your monitoring equipment is polling the switch faster than it can handle the snmp polls. On newer code versions make sure your snmp buffer statement is set as high as it will go , think it is 95 . If still seen the only way to get rid of it is to throttle the snmp poll rate to the switches from the management tool. The messages do not hurt anything and is basically informational. If you don't want to see them in the logs then you could also set your logging for UDP to something below a "6" .
Here is the information that I have got about the error :
Error Message IP-6-UDP_SOCKOVFL: UDP socket overflow from Source
IP:[chars], Destination port:[dec]
Explanation This message indicates that all buffers for a UDP socket on the Network Management Processor (NMP) have filled up due to excessive UDP traffic on the administrative VLAN. [chars] is the source IP address and [dec] is the destination port number.
Recommended Action Remove or block the source of the UDP packets to prevent further UDP packet loss.
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