Hm.
FWIW I'm currently using a Weber Vintage 12F 100W RMS 16 ohm speaker in a 1X12 cab with my Powerhead (although hope to move to a Beyma 12GA50 soon).
The reference manual spec says 300W for 16 ohm load and 600W for 8 ohm. No mention of type (AES, RMS, peak, or otherwise), so not certain exactly what the power is, however since it is half the value with twice the impedance, suspect it may be RMS (look at the definition of RMS power and you'll see what I mean, for same peak voltage twice the resistance yields half the power). ANYWAY I am really paranoid about blowing the speaker, so I don't use any power boost at all, keep the monitor output level below -2 or -3dB, and keep the front panel level less than about 5/8 and I haven't had any issues with the speaker, and it seems to have plenty of power. Ran it for three 1 hr sets the other night and no issues with the speaker. The little 1X12 (with a closed back, no less) was clearly heard above my quite-loud band (my FOH connection had some problems, so was running on cab itself plus a K10 monitor for myself driven from the main out). And that is with a 16 ohm speaker.
Not sure if it may have contributed, but - was the cab sim on? I do have my cab sims off. I noticed that the sound is sort of thicker and louder in some rigs with the cab sim on and currently don't use them with my 1X12. However, if you had them on, perhaps some of the transients may have been enhanced and over time overheated the coil. Just throwing out an idea.