Lots of public misconceptions about gas & octane.
Many folks perceive it to be like a dose of TNT for gas. "Man, I'm jacked up...that triple espresso was some high octane!!!" It's actually an inhibitor, not a booster.
Octane is a chemical added to gasoline blends to reduce the rate of flame spreading (combustion).
It is added for high-compression cylinders since compressing a gas (like air, nitrogen, helium) generates heat. Diesel engines have no sparkplugs, just a glow plug to get them started. After that, the heat generated during the compression is what ignites the air/fuel mix.
You have to match this reaction to your engine's compression type, in real world numbers, not in how "badass" you think the engine is. It's all about compression ratio (as mentioned in other posts). Add too high an octane level fuel to a lower compression engine, and you are reducing the rate of burn too much. This, as mentioned, can cause poor performance. Converse is true as well: add lower octane fuel to a high-compression cylinder, and you get pre-detonation (due to the extra heat from the higher compression) and you hear this as 'pinging', and poor performance. Do enough of this, and you'll end up with engine damage.
The 700R's engine is not particularly high compression. Use what the manual says.