I can tell you that I had used the afterburner in my old laptop (Asus X43SJ) having an Nvidia GT 520m and overclocked it 23% !!!
So, yes it can be used in a laptop.
That said however, I can tell you, use the afterburner only if you are very sure of what you are doing, if you have even a shred of doubt, don't use it.
Also, try cleaning the laptop by opening the rear panel and clean all the dirt and dust accumulated on the CPU, GPU and the vents.
It will help you cool the laptop and thus will result in lower fan speeds.
I hope you keep always the laptop on a table, making sure all the vents are open, right? Keeping it on bed or places which chokes it vents are also responsible for high fan speeds.