Are we suggesting that 1400 is ok, and 1500 isn't?
Well, I am, personally, and informally - meaning that I do not base my opinion upon authoritative data, but rather my understanding
some of what I have experienced in this realm.
We agree that 1400F is a "nice" leaned EGT to see in two mag cruise flight, on a normally aspirated engine, which is running properly. I opine that the actual temperature for the flame in the combustion chamber is considerably hotter than that. The difference being the cooling of the flame as it begins to exit the exhaust port. A part of this [heating then] cooling occurs as a flame originates (at the spark plugs), expands outward like a balloon constrained by the combustion chamber, and then contracts (in the temperature sense), as the fuel is burned, and combustion completed. But the key is that the flame front of the normal combustion balloons out, then "contracts" like a balloon deflating, rather than bulging non uniformly.
The combustion chamber was not designed for normal operation on one mag, so the flame originating at only one spark plug, will advance and retreat differently than it would with two spark plugs. We know that the power being produced on only one mag/plug is less than on two. So one would expect that there would be less total heat of combustion - all the fuel may not be being burned in the intended place in the combustion chamber.
I cannot say what temperature the exhaust port "zone", down stream of the of the exhaust valve, is designed to withstand, though with 3500 hours on a Continental, and a Lycoming I own, 1400F EGT seems to have never created a problem for me. Of course, 1400F EGT is a very relative temperature, variable based upon probe location (which is rarely the same for all the cylinders of the engine). We're not actually measuring the precise temperature of the exhaust gasses as they are exhausted, they've cooled a bit already.
So if I see 1500F EGT, I know that the local exhaust area is experiencing hotter than normal temperatures. Is it designed for this? I don't know. I do know that Bill, the retired Continental Engineer, told me that failure to get the exhaust heat away from the exhaust port area of the cylinder could result in the valve coking up and sticking - and this has happened to me. I opine that the hotter EGT indication on one mag is a result of some combination of non uniform flame front, so hotter gases have the opportunity to exit before cooling as much as desired, and fuel which did not burn because of abnormal ignition continuing to burn much later than intended.
I do know that nothing in the design requirements for piston engines requires that the manufacturer demonstrate any prolonged operation nor durability while running on only one mag. It only says that engines shall have two independent ignition systems, not how well it runs on only one, nor for how long before you damage it!
So, with all of that as my basis for thinking, and the fact that I have actually made a Continental 520 denonate during testing (which included leaning it), and measured in real time, I like to err to the conservative, and enrichen mixture as much as I can while running on only one mag - just to be on the safe side. As said, if you're running on only one mag, you're probably no longer planning planning to fly to the full capacity of the aircraft's endurance anyway!