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Today must be some sort of national overclocking day - first the T-Mobile G2 went down to the force of xda-developers, and it looks like Motorola's Droid 2 is next up in line (albeit getting its treatment from the AndroidForums). While the speeds aren't quite as impressive (users have only been able to achieve 1.2-1.3GHz from 1GHz as opposed to G2's 1.4GHz from 800MHz), the improvement will still be very much welcomed by Droid 2 owners, especially since the instructions are so straightforward (they really are):

  1. You need to be rooted before proceeding.
  2. Download from the forum post or from our mirror.
  3. Make sure you have the Android SDK installed and you know how to fire up adb.
  4. Now execute the following commands

$ su
# cd /sdcard/extracted/droid2_22_oc (or wherever you extracted the files to)
# mount -o rw,remount -t ext3 /dev/block/mcblk1p21 /system
# cp overclock.ko /system/lib/modules/overclock.ko
# cp /system/xbin/
# chmod 644 /system/lib/modules/overclock.ko
# chmod 755 /system/xbin/
<optional(only do after thoroughly testing what works for your DroidX in>
# cp /system/etc/
# chmod 755 /system/etc/
# mount -o ro,remount -t ext3 /dev/block/mcblk1p21 /system
Run Instructions
$ su
# insmod /system/lib/modules/overclock.ko

Overclock away, but remember, we didn't say nothin'!

Source: AndroidForums via Phandroid