He's now 5 innings over the "30+" rule. Last season he went beyond the 30+ rule by 6 innings. There was nothing wrong with the 126.2 IP in 2008 as it's generally accepted that any pitcher should be able to go 126 innings in one season regardless of how many they pitched the year before.
This includes tonight's outing against Milwaukee.
Don't assume that just because a pitcher looks great in his last start that there isn't an effect from stretching the arm too far during any one season. The effect takes place the following seasons. Too many young pitchers have been in this position right now and they've usually been used during the playoffs only to have their careers become a shadow of what was hoped for them.
It's time to shut down Travis Wood for the season as a Starter and put him in the pen. There's no reason to risk the next 8 seasons of this 2005 2nd Round pick on a post-season that's likely to end during the first round.
One alternative is to shut him down altogether.
Another is to risk using him as a Starter and perhaps giving hip 7, 13, 20, 26, or even 31 more innings on the season. That would really increase the risk factor on him sustaining arm problems for the rest of his career.