The Mk 10 was designed with 3000 to 3300 psi service pressures in mind. 3500 psi is probably not going to present any major problems, but that's not an absolute guarentee.
In service, high pressures (over 3300 psi) have been known to cause problems with Mk 10's due to higher pressures causing the high pressure o-ring to begin to extrude into the gap between the piston stem and the first stage body (HP o-ring pinch).
The degree to which this will occur depends on the tolerances between the piston stem and the first stage body. Mk 10's with excessive wear, poor piston alignment, or otherwise larger tolerances could have problems at pressures over 3300 psi that they do not have at lower pressures.
So if your Mk 10 has fairly tight tolerances, it may work just fine at 3500 psi. If not, it is going to suffer from various degrees of HP o-ring pinch that can result in cutting small crescent shaped pieces out of the HP o-ring that forms the seal between the piston stem and body. That will result in a leak that will quickly get progressively worse.
Scubapro developed the Mk 15 in response to a need for higher service pressures (up to 4350 psi (300 bar) and it was designed to use a replaceable bushing system. This system insures the piston stays perfectly aligned, ensures the tolerances are tighter than is possible with an o-ring supported by a traditional brass first stage body, and ensures the tolerances can easily and inexpensively be renewed at each annual service. Scubapro used this design with minor improvements in the Mk 20 and Mk 25 as well. Any of those three regulators is a better choice for very high pressures.