What version of Bugless Beast do you have? If you have Beast, it already has the Taz kernel with OC'ing built in. When I say "built in", I mean it's possible to OC. That does not mean that it is OC'ed by default. If you have an older version of BB (early february builds) then it may have SetCPU already installed. If SetCPU is there, open it up and see what your speed is.
Later versions required that Pete remove SetCPU from his ROM due to the developer's request. The ability to overclock is still there though, so all you need to do is download SetCPU from the market, and open it up. It will allow you to change your speeds to anything that the kernel supports, which in his new version goes up to 1gHz I believe.