You can definitely put in too much sound absorption and deaden the room. It can be a fine line where just 2 panels could throw the room into a non-exciting scenario. If you are lacking bass, try putting in some Owens 703 FRK panels with the foil side to the room. The foil will reflect mids/high and also act as a membrane to improve bass absorption (although it really is only good down to about 80-90hz). If you want a bandwidth limited bass panel, try GIK Monster with FlexRange limiter or a tuned membrane trap such as GIK Scopus.
Over damped Room?
I recently moved into a smaller listening room (10' by 13') and had floor stander that had to go from old house...I ended up with some atc scm19 v2 and thought I was done with room treatments...lately I have been turning system up...way up to get some grunt/dynamics going...having 200 watts... today I removed the rear bass traps and man my speakers can breath again...
I was all set to get new subwoofer and cables...couldn't for the life of me figure what was missing...
Micro details,air more low end...Definitely worth trying.