This comes from clockwork springs. 'Too wound up' refers to the state where the spring is wound so tightly that it binds itself together so that it can't unwind naturally. (a bit like a stack of paper where you can't separate the sheets).
When in this state, the spring has more energy stored in it than can be handled by the mechanism for which it was designed - this energy can either stay locked up as it is, an thus be unproductive, or, if anything prompts it to restart unwinding, it will suddenly start to unwind in an uncontrolled manner releasing too much energy to cope with.
Thus someone who is described as 'too wound up' has a load of energy stored in them over which they have little control - they can't use it in a natural manner, and when it does release...watch out, it will damage the things around it.